West Marine SOLD....Time to Rejoice - Hopefully

Blueone

Blueone

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Jan 24, 2007
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Lake Erie, Ohio
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2004 420 Sundancer
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Cummins 6CTA 450's
https://www.westmarine.com/PressRoom/PR20170629


West Marine sold to private equity firm
Published on April 14th, 2021


Boating retailer West Marine, which operates 237 stores across 38 states and Puerto Rico along with online shopping, has entered into a definitive agreement to be acquired by L Catterton, the largest global consumer-focused private equity firm. Terms of the transaction were not disclosed.

“We are thrilled to be partnering with L Catterton in the next phase of growth for West Marine,” said Ken Seipel, CEO of West Marine, which was founded in 1968. “The L Catterton team brings invaluable consumer, brand building and digital expansion expertise to help us accelerate our growth plans.

“In partnership, we look forward to enhancing our digital capabilities and elevating our consumer experience to not only provide the broadest product offering in the industry, but to deliver the most comprehensive and rewarding consumer experience no matter where or how our boaters choose to engage with us. We look forward to our new partnership with L Catterton.”

It was reported in June 2017 that West Marine and Monomoy Capital Partners, a New York-based private equity fund, had executed a definitive merger agreement under which a wholly owned affiliate of Monomoy would acquire all of the outstanding shares of common stock of West Marine at $12.97 per share in cash, which represents a total equity value of $338 million. This price represents a premium of 32% over the 30-day average performance of West Marine’s stock price reported o
 
Pirate Lady said:
I hate that place! Hire big tit blondes don’t know shit about boats, fk em, hope they die slow death.
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All the big tit blondes I know are very knowledgeable about boating....we're talking about motor boating here still, right?
Anyway, Pirate, you really need to quit holding back on your opinions. Really, just let it all hang out.
 
Interesting, I've never seen an actual store .... I thought it was only a web site :oops:
 
Golfman25 said:
Actually, the guys who staff our local place can be helpful. And where do you go when you need something in a pinch -- it's right on the corner to the marina.
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I agree. I have gotten good advice on occasion there, especially when we were buying the gear to set up our first boat. The problem is their inventory sucks. So I usually have to run across the parking lot to Bass Pro to get everything WM doesn't have.
 
I spend a lot of taxpayer dollars at West Marine/Port Supply in my day job. Back when there was a brick and mortar store in my town, Pirate Lady is correct about the staff. But...since I knew plenty about boating, I had no problem with the hired help. :)
 
highslice said:
I agree. I have gotten good advice on occasion there, especially when we were buying the gear to set up our first boat. The problem is their inventory sucks. So I usually have to run across the parking lot to Bass Pro to get everything WM doesn't have.
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Inventory is a huge issue for my closest store. They don’t restock basic stuff. Problem seems to be they order, but corporate won’t fulfill. It’s nuts.

But the guys and gals at my WM are good and knowledgeable. I just wish their prices were no so absurd.
 
b_arrington said:
Inventory is a huge issue for my closest store. They don’t restock basic stuff. Problem seems to be they order, but corporate won’t fulfill. It’s nuts.

But the guys and gals at my WM are good and knowledgeable. I just wish their prices were no so absurd.
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Where I am in Ct, there are three or four stores relatively close. One has the same issue where they can’t get the stock. One under an hour drive is a huge store and it stocks a lot. Sometimes the local store will get me something from the other if I’m not in a hurry. They will match defenders price which has me now returning to shop there. Last week I bought a ~$50 dollar switch for ~$27 with price match. I can’t believe how they stayed in biz so long before they started matching prices.
 
They’ll match Amazon prime prices too. Our local store keeps cleaners and such nicely stocked. I used to get mercruiser stuff there for my last boat and had no issue. I also appreciate the well organized SS fastener section.
 
So what is there to rejoice in? Does anyone actually think that if West Marine is owned by a larger conglomerate that some how they will lower their margins, pay employees a higher wage to attract more experienced salespeople and open more stores in convenient locations? I have to drive 50 miles to the closest WM but when we are in Sausalito I do enjoy visiting the Marin City WM superstore, It is really nice and that store has very helpful folks and a great inventory, I don't mind paying the extra Boat cents because of the convenience factor. If I am looking for something specific and not in a hurry I rarely give WM a shot online I use several other online stores first. Now if they get bigger and can under cut the competition by 10 or 15 percent now we are talking.
Carpe Diem
 
Carpediem44DB said:
So what is there to rejoice in? Does anyone actually think that if West Marine is owned by a larger conglomerate that some how they will lower their margins
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That’s the hope...what else would it be.. to stay the same?
 
Strecker25 said:
They’ll match Amazon prime prices too. Our local store keeps cleaners and such nicely stocked. I used to get mercruiser stuff there for my last boat and had no issue. I also appreciate the well organized SS fastener section.
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Only if it is shipping direct from Amazon. They will also match Walmart which has come in handy for me. Most of the stores near me are also nice and staff are friendly. Most are helpful but only a few are knowledgeable.
I too expect to see already high prices go higher now - hope they keep the price match
 
A few years ago I bought a fridge for my 33 DA. It worked for one day and crapped out, july 4 th . Defenders said once you open the box you now have to deal with the manufacturer. Three weeks no fridge. That same year a boat neighbor bought an ac unit from west marine. It crapped out , they went back to W M and left the store with a replacement, no questions asked. What’s that worth. And they price matched Defenders
 
We are new boaters and our local West Marine has always been helpful with our needs. The wife likes the lady's clothing that they offer.
 
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