Who Owns The Renowned Lund Boat Company?

Lund Boats Company, founded by G. Howard Lund in 1948, has been producing high-quality fishing boats for over 70 years. In 2004, Brunswick Corporation, a leading manufacturer of pleasure boats, acquired the company for $191 million in cash. Brunswick, with its diverse boat brands and strong presence in the marine industry, has continued to uphold the legacy of Lund Boats, known for their superior craftsmanship, innovation, and performance. Under Brunswick's ownership, Lund Boats has maintained its reputation for building durable, functional, and high-quality fishing boats, solidifying its position as a revered name in the aluminum boat industry.

Howard Lund built the first Lund boat in 1948

In 1948, Howard G. Howard Lund built the first Lund boat in New York Mills, Minnesota. Frustrated by the lack of quality duck boats available, Lund, who had honed his skills while serving in the U.S. Navy during World War II, decided to build his own. This marked the birth of the Lund Boat Company.

Lund's first boat was an aluminium duck hunting boat. His extreme attention to detail resulted in a superior design to any existing boats of the time. This caught the attention of an Inland Marine Corporation salesman, who ordered 50 boats.

Lund's commitment to quality and innovation has continued as a legacy for the company. They continuously improved year after year, pushing the boundaries of what a fishing boat can do. By 1950, Lund started producing aluminium hunting boats, and shortly after, 12 and 14-foot fishing boats. With the post-war economic expansion well underway, Lund Boats experienced rapid growth throughout the 1950s. The introduction of boats like the Water King, Water Queen, and Water Princess solidified the company's reputation for quality and durability.

In 1961, Howard Lund reincorporated the company as Lund Metal Craft, Inc. and expanded into the fibreglass fishing boat market. With the purchase of Shell Lake Boat Company, Lund Boats increased their multipurpose capabilities with a product lineup for family and sport.

In 2004, Lund Boats was acquired by Brunswick Corp. and became part of the Brunswick Boat Group division.

Brunswick Corporation acquired Lund in 2004

The Lund Boat Company was acquired by Brunswick Corporation in 2004. The acquisition was part of Brunswick's strategy to become a leader in all boat segments and integrate its boat and marine engine divisions. With this purchase, Brunswick added Lund to its portfolio of boating brands, which already included Sea Ray, Boston Whaler, Bayliner, and Mercury Marine, among others.

The history of the Lund Boat Company dates back to 1948 when Howard Lund built his first aluminum duck hunting boat. Over the years, the company has become known for its commitment to quality and innovation, continuously improving its boats and pushing the boundaries of what a fishing boat can do. By 2004, when Brunswick Corporation acquired Lund, the company had a strong reputation and was a well-established brand in the boating industry.

The acquisition of Lund by Brunswick Corporation was a significant event for the employees of Lund Boats as well. Larry Lovold, the president of Lund Boats at the time, described the mood as "upbeat" as the employees learned they would be working for a Fortune 500 company. With 575 employees, Lund Boats was the largest employer in the Otter Tail County city of 940. The acquisition also included the acquisition of the Crestliner and Lowe boat brands from Genmar Industries Inc., further expanding Brunswick's presence in the boating industry.

The addition of Lund Boats to the Brunswick Corporation family was a strategic move that aligned with Brunswick's goal of expanding its boating business. Brunswick recognized the strong reputation and innovative spirit that Lund Boats brought to the table. By integrating Lund into its Brunswick Boat Group division, Brunswick Corporation solidified its position as a leading manufacturer of pleasure boats and fishing boats, strengthening its presence in the competitive boating industry.

The acquisition of Lund Boats by Brunswick Corporation in 2004 marked a pivotal moment in the history of both companies. For Lund Boats, it meant becoming a part of a larger organization with greater resources and a broader reach. For Brunswick Corporation, it represented a step forward in its strategy to dominate the boating industry and offer a diverse range of boating options to consumers. The acquisition ultimately contributed to Brunswick's success and solidified its position as one of the largest boat makers in the world.

Brunswick Corp. is traded on the New York Stock Exchange

The Brunswick Boat Group is an American pleasure boat manufacturer, headquartered in Knoxville, Tennessee. It is the largest maker of such craft in the world, with net sales of US$1.7 billion in 2008 and US$1.0 billion in 2012. The company was formed in 2000 to manage the Brunswick Corporation's nearly 45 boat brands.

The Brunswick Corporation is traded on the New York Stock Exchange (NYSE) under the ticker symbol BC. The company is a leading marine technology company, operating through four segments: Propulsion, Engine P&A, Navico Group, and Boat. The Propulsion segment provides outboard, sterndrive, and inboard engines, as well as propulsion-related controls and propellers, for boat builders and marine retail dealers. The Engine P&A segment offers engine parts and consumables, electrical products, and boat parts and systems for the marine and non-marine markets. The Navico Group segment serves the marine, recreational vehicle, and specialty vehicle markets, providing products such as marine electronics, sensors, control systems, and general accessories. The Boat segment offers a range of sport boats, cruisers, fishing boats, and pontoon boats through dealers and distributors.

On March 8, 2004, Brunswick Corp. announced its acquisition of the Lund, Crestliner, and Lowe boat brands from Genmar Industries Inc. for $191 million in cash. This acquisition included the Lund plant in New York Mills, Minnesota, where the company was founded by Howard Lund in 1948. With this purchase, Brunswick Corp. expanded its portfolio and entered the aluminum boat business.

As of September 16, 2024, the Brunswick Corporation stock price was 79.15 on the NYSE. The company has a market cap of 5.24B and a dividend yield of 2.12%.

Brunswick Boat Group is the largest maker of pleasure craft in the world

The Brunswick Boat Group (BBG) is the largest maker of pleasure craft in the world. It is an American pleasure boat manufacturer, headquartered in Knoxville, Tennessee. The BBG was formed in 2000 to manage the Brunswick Corporation's nearly 45 boat brands. The Brunswick Corporation, formerly known as the Brunswick-Balke-Collender Company, is an American corporation that has been developing, manufacturing and marketing a wide variety of products since 1845. It owns major boating brands, including Sea Ray, Boston Whaler, Bayliner, Mercury Marine, Attwood, Lund, Crestliner, Mastervolt, MotorGuide, Harris Pontoons, Freedom Boat Club, Princecraft, Heyday, Lowe, Uttern, Quicksilver and CZone, among many others.

The Brunswick Boat Group makes Sea Ray, Bayliner and Meridian pleasure boats; Boston Whaler, Crestliner, Cypress Cay, Harris (formerly FloteBote), Lowe, Lund, and Princecraft fishing, deck and pontoon boats. Brunswick is one of the largest boat makers by units in Europe, with Quicksilver, Uttern and Valiant boat brands. Brunswick also owns the New Zealand boat brand, Rayglass.

In 2004, Brunswick acquired Lund Boats as part of its purchase of the Lund, Crestliner and Lowe boat brands from Genmar Industries Inc. of Minneapolis for $191 million in cash. At the time, Lund Boats was the largest employer in the Otter Tail County city of 940, with 575 employees. The acquisition included the plant in New York Mills, the Crestliner plant in Little Falls, Minnesota, a smaller Lund Canada plant in Steinbach, Manitoba, and the Lowe plant in Lebanon, Missouri.

Brunswick's global headquarters is in the northern Chicago suburb of Mettawa, Illinois. The company has more than 13,000 employees operating in 24 countries. In 2021, Brunswick reported sales of $5.8 billion.

Lund Boats is headquartered in New York Mills, Minnesota

Lund Boats has been headquartered in New York Mills ever since, and the company has continued to honour Howard Lund's legacy of quality and innovation. The company's commitment to pushing the boundaries of what a fishing boat can do has led to continuous improvements over the years.

In 2004, Brunswick Corp. acquired the Lund, Crestliner and Lowe boat brands from privately held Genmar Industries Inc. of Minneapolis for $191 million in cash. The acquisition included the plant in New York Mills, which became part of the Brunswick Boat Group division. Brunswick is one of the largest boat makers in the world, and the Brunswick Boat Group manages its nearly 45 boat brands.

Despite the acquisition, Lund Boats has retained its distinct identity and reputation for quality. In 2021, Brunswick appointed a new president of Lund Boats, Lenn Scholz, who has spent the past 25 years at Brunswick. Scholz has stated his commitment to continuing the Lund tradition of superior quality and innovation.

Today, Lund Boats continues to be a leading manufacturer of aluminium and fiberglass fishing boats, with a strong reputation for performance and quality. The company's headquarters in New York Mills, Minnesota, remains central to its operations and commitment to serving the serious angler.

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