Oy Otto Brandt Ab acquires Finnish TG-Boats
Oy Otto Brandt Ab strengthens its marine segment by acquiring Freja Marine Oy, the Finnish boat builder that manufactures cabin-equipped TG-Boats. The contract has been signed by both parties on March 24th 2021.
The marine segment, including boats and outboard engines, has during the past few years become an increasingly more significant part of Otto Brandt’s business. By the acquisition of TG-boats we aim to complement the boat supply of the Otto Brandt Group and strengthen our marine strategy.
With more than 40 years of experience, TG-Boats is Finland’s market leader in cabin boats with an approximate market share of 50 %. The model range consists of four different cabin boats: TG-5.9X, TG-6.9X, TG-7.9 KINGCruiser and TG-7.9 KINGCruiser Supreme. All boats are manufactured in Finland, and the business transaction will not have an impact on production. Previous owners and business developers Jan Gustafson and Fredrik Gustafson continue on working for TG-Boats. Jan answers for the boats’ production and Fredrik will be responsible for product development. Sales and marketing operations will be handled by Oy Brandt Ab, the subsidiary company of the Otto Brandt Group responsible for wholesale operations, as of August 1st 2021.
“We are extremely thrilled to welcome TG-Boats into the Otto Brandt Group. The model range of TG has been significantly renewed in the past years and it is the market leader in its own segment. For several years our marine portfolio has lacked cabin-equipped models, so this acquisition fills that void and complements the existing model ranges without stepping on any toes concerning the Group’s existing boat brands. Above all this is great news for our dealer network that from now on will have high-quality cabin boats to offer their customers”, states Markku Hämäläinen, Group CEO of Oy Otto Brandt Ab.
“As a family-owned company with similar values, Otto Brandt was the best possible buyer for our family’s life work. As a sound and solvent company with an extensive dealer network, it guarantees a successful future for the TG brand”, says Jan Gustafson, CEO of Freja Marine Oy.
Markku Hämäläinen, Group CEO of Oy Otto Brandt Ab
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The Otto Brandt Group, which was founded back in 1905, is a Finnish family-owned company in its fifth generation. The Group’ sales borders on 90 million euros and it employs approximately 150 persons. The Otto Brandt Group operates holistically in sales and service concerning high-quality motorcycles, ATVs, boats, leisure vehicles and other durable goods.