In This Article:
VALCOURT, QC and BRISBANE, Australia, March 31, 2025 /CNW/ - BRP Inc. (TSX: DOO) (NASDAQ: DOOO) announces today that it has entered into a definitive agreement to sell 100% of the outstanding shares of Telwater Pty, Ltd. to Yamaha Motor Australia Pty Ltd., a subsidiary of Yamaha Motor Co., Ltd. The acquirer has been established in the region since 1983 and a key player in Australia's boat industry.
This transaction follows BRP's decision to sell its Marine businesses to channel its efforts and investments towards its core Powersports activities, thereby enhancing its position for long-term success.
"We are pleased with today's announcement, our first transaction in the process for the sale of our Marine businesses," said José Boisjoli, President and CEO of BRP. "I would like to sincerely thank all of the talented employees for their contribution and commitment over the years. We know we can count on their professionalism to continue supporting our dealers and customers with dedication through this transition period, until the transaction is completed."
Telwater Pty, Ltd. includes the businesses of renowned brands such as Quintrex, Stacer and Savage. This transaction is subject to certain customary closing conditions, including regulatory approval, and is expected to be completed in the second quarter of BRP's Fiscal 2026.
National Bank Financial Inc. acted as financial advisor and Stikeman Elliott LLP acted as legal advisor to BRP on the transaction.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
Certain information included in this release, including, but not limited to, statements relating to the completion of the sale of Telwater Pty, Ltd., the anticipated benefits associated with the completion of this sale, the receipt of all requisite approvals to complete the acquisition, the closing date of the acquisition and the Company's business and strategic plans, and other statements that are not historical facts, are "forward-looking statements" within the meaning of Canadian and United States securities laws. Forward-looking statements are typically identified by the use of terminology such as "may", "will", "would", "should", "could", "expects", "forecasts", "plans", "intends", "trends", "indications", "anticipates", "believes", "estimates", "outlook", "predicts", "projects", "likely" or "potential" or the negative or other variations of these words or other comparable words or phrases. Forward looking statements, by their very nature, involve inherent risks and uncertainties and are based on several assumptions, both general and specific. BRP cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results or performance of BRP to be materially different from the outlook or any future results or performance implied by such statements. Further details and descriptions of these and other factors are disclosed under the heading "Risk Factors" of the Corporation's management's discussion and analysis for the fiscal year ended on January 31, 2025.