Thu, 19 Dec 2024 | DIVISION SALE
North Shields-based boat equipment firm Marine Chandlery has bought the assets of peer Bayside Marine.
Brixham-based Bayside Marine served the boating community for more than 20 years. It began in 1998 as Becconsall Fishing Gear Supplies, providing goods to commercial fishing fleets from its Devon base before expanding into the leisure market and launching an eBay store front.
According to its most recent financial results to the year ending 31 October 2022, the monthly average number of employees at the company was five.
Marine Chandlery, previously known as Storrar Marine, launched earlier this year after being acquired by West Nautical.
Storrar Marine went into liquidation and was put on the market in early 2024. West Nautical, founded in 2004, is a full-service superyacht company with head offices in both Newcastle and abroad.
Since the acquisition, Marine Chandlery is reported to have experienced a robust six months. Its range of products include boat engines, pumps, paints and ropes, as well as clothing, inflatables, books and charts.
Marine Chandlery said the Bayside deal was an “exciting milestone” in its growth. It added that it would “strengthen its position in the market and ensure an even wider selection of products and services”.
Geoff Moore, owner of Marine Chandlery, said Bayside Marine’s stock and established online presence, which includes a website and social media channels, will allow it to “expand its reach and better serve its growing customer base.”
He added: “We remain committed to delivering exceptional service and a comprehensive range of marine products. Customers can look forward to continued innovation and growth as we build on our strong foundation.”
The move comes despite a rocky environment within the marine industry with the cost-of-living crisis hitting boat sales. According to the Boats Group, following a boom in demand during the pandemic, global sales dropped by 9.1 per cent in the first half of 2024.
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