{"id":787209,"date":"2023-09-29T18:18:08","date_gmt":"2023-09-29T22:18:08","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/onewater-marine-inc-announces-the-sale-of-dealerships-in-non-core-markets\/"},"modified":"2023-09-29T18:18:08","modified_gmt":"2023-09-29T22:18:08","slug":"onewater-marine-inc-announces-the-sale-of-dealerships-in-non-core-markets","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/onewater-marine-inc-announces-the-sale-of-dealerships-in-non-core-markets\/","title":{"rendered":"OneWater Marine Inc. Announces the Sale of Dealerships in Non-Core Markets"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">BUFORD, Ga., Sept.  29, 2023  (GLOBE NEWSWIRE) &#8212; OneWater Marine Inc. (NASDAQ: ONEW) (\u201cOneWater\u201d or the \u201cCompany\u201d) announced today that it has completed the sale of two dealerships located near Lake Cumberland in Somerset Kentucky to Troxtell Marine. Lookout Marine and Kentucky Marine had combined annual sales of $6 million.<\/p>\n<p>\u201cWe continue to further enhance our geographic footprint in some of the largest boating markets in the country. While these dealerships have performed well, they are not aligned with our long-term strategy and believe they would be better positioned with Troxtell Marine, a premier marine business serving the Somerset, Kentucky area,\u201d said Austin Singleton, Chief Executive Officer for OneWater.<\/p>\n<p>Troxtell Marine is a premier marine business serving the Somerset, Kentucky area, carrying a variety of outboard motors, pontoons, and boats lines from Mercury, Starcraft, and Yamaha. It is anticipated that the combined businesses will operate under the Troxtell Marine and Lookout Marine brand umbrella.<\/p>\n<p>\u201cWe have built a reputation as one of the most premium marine sales and service providers in the Somerset, Kentucky marketplace. We look forward to caring for existing &amp; prospective customers both during and after the sale, all while further expanding our footprint in the industry,\u201d said Jimbob Troxtell, Owner &amp; General Manager of Troxtell Marine.<\/p>\n<p align=\"justify\">\n        <strong>About OneWater Marine Inc.<\/strong>\n      <\/p>\n<p align=\"justify\">OneWater Marine Inc. is one of the largest and fastest-growing premium marine retailers in the United States. OneWater operates a total of 97 retail locations, 11 distribution centers \/ warehouses and multiple online marketplaces in 19 different states, several of which are in the top twenty states for marine retail expenditures. OneWater offers a broad range of products and services and has diversified revenue streams, which include the sale of new and pre-owned boats, finance and insurance products, parts and accessories, maintenance, repair and other services.<\/p>\n<p align=\"justify\">\n        <strong>Cautionary Statement Concerning Forward-Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">This press release and statements made during the above referenced conference call may contain \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995, including regarding our strategy, future operations, financial position, prospects, plans and objectives of management, growth rate and its expectations regarding future revenue, operating income or loss or earnings or loss per share. In some cases, you can identify forward-looking statements because they contain words such as \u201cmay,\u201d \u201cwill,\u201d \u201cwill be,\u201d \u201cwill likely result,\u201d \u201cshould,\u201d \u201cexpects,\u201d \u201cplans,\u201d \u201canticipates,\u201d \u201ccould,\u201d \u201cwould,\u201d \u201cforesees,\u201d \u201cintends,\u201d \u201ctarget,\u201d \u201cprojects,\u201d \u201ccontemplates,\u201d \u201cbelieves,\u201d \u201cestimates,\u201d \u201cpredicts,\u201d \u201cpotential,\u201d \u201coutlook\u201d or \u201ccontinue\u201d or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. These forward-looking statements are not guarantees of future performance, but are based on management&#8217;s current expectations, assumptions and beliefs concerning future developments and their potential effect on us, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Our expectations expressed or implied in these forward-looking statements may not turn out to be correct.<\/p>\n<p align=\"justify\">Important factors, some of which are beyond our control, that could cause actual results to differ materially from our historical results or those expressed or implied by these forward-looking statements include the following: effects of industry wide supply chain challenges including a heightened inflationary environment and our ability to maintain adequate inventory, changes in demand for our products and services, the seasonality and volatility of the boat industry, fluctuation in interest rates, adverse weather events, our acquisition and business strategies, the inability to comply with the financial and other covenants and metrics in our credit facilities, cash flow and access to capital, effects of the COVID-19 pandemic and related governmental actions or restrictions on the Company\u2019s business, risks related to the ability to realize the anticipated benefits of any proposed acquisitions, including the risk that proposed acquisitions will not be integrated successfully, the timing of development expenditures, and other risks. More information on these risks and other potential factors that could affect our financial results is included in our filings with the Securities and Exchange Commission, including in the \u201cRisk Factors\u201d and \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u201d sections of our Annual Report on Form 10-K for the fiscal year ended September 30, 2022 and in our subsequently filed Quarterly Reports on Form 10-Q, each of which is on file with the SEC and available from OneWater Marine\u2019s website at www.onewatermarine.com under the \u201cInvestors\u201d tab, and in other documents OneWater Marine files with the SEC. Any forward-looking statement speaks only as of the date as of which such statement is made, and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events, or otherwise.<\/p>\n<p align=\"justify\">\n        <strong>Investor or Media Contact:<\/strong><br \/>\n        <br \/>Jack Ezzell<br \/>Chief Financial Officer<br \/><u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ylF4k6CruETcdmqpfhW9Iej0tKkmh465QWYtKa_i4xkPjnfrjDD_qTjVEqtb74Klkckit5VasYORjEvGaCxB45lR-x_qwWIJ1G3F82kjAuA=\" rel=\"nofollow noopener\" target=\"_blank\">IR@OneWaterMarine.com<\/a><\/u><\/p>\n<\/p>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODkzMTM0MCM1ODQwNDY2IzIxODc3NzQ=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/Yjk5ZjdlNmQtZTY0MS00Mzc0LTlmZGEtYmY3ZTNlNDVkMWMyLTExOTkzMjc=\/tiny\/OneWater-Marine-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>BUFORD, Ga., Sept. 29, 2023 (GLOBE NEWSWIRE) &#8212; OneWater Marine Inc. (NASDAQ: ONEW) (\u201cOneWater\u201d or the \u201cCompany\u201d) announced today that it has completed the sale of two dealerships located near Lake Cumberland in Somerset Kentucky to Troxtell Marine. Lookout Marine and Kentucky Marine had combined annual sales of $6 million. \u201cWe continue to further enhance our geographic footprint in some of the largest boating markets in the country. While these dealerships have performed well, they are not aligned with our long-term strategy and believe they would be better positioned with Troxtell Marine, a premier marine business serving the Somerset, Kentucky area,\u201d said Austin Singleton, Chief Executive Officer for OneWater. Troxtell Marine is a premier marine business serving the Somerset, Kentucky &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/onewater-marine-inc-announces-the-sale-of-dealerships-in-non-core-markets\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;OneWater Marine Inc. Announces the Sale of Dealerships in Non-Core Markets&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-787209","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>OneWater Marine Inc. Announces the Sale of Dealerships in Non-Core Markets - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/onewater-marine-inc-announces-the-sale-of-dealerships-in-non-core-markets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OneWater Marine Inc. Announces the Sale of Dealerships in Non-Core Markets - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"BUFORD, Ga., Sept. 29, 2023 (GLOBE NEWSWIRE) &#8212; OneWater Marine Inc. (NASDAQ: ONEW) (\u201cOneWater\u201d or the \u201cCompany\u201d) announced today that it has completed the sale of two dealerships located near Lake Cumberland in Somerset Kentucky to Troxtell Marine. Lookout Marine and Kentucky Marine had combined annual sales of $6 million. \u201cWe continue to further enhance our geographic footprint in some of the largest boating markets in the country. While these dealerships have performed well, they are not aligned with our long-term strategy and believe they would be better positioned with Troxtell Marine, a premier marine business serving the Somerset, Kentucky area,\u201d said Austin Singleton, Chief Executive Officer for OneWater. Troxtell Marine is a premier marine business serving the Somerset, Kentucky &hellip; Continue reading &quot;OneWater Marine Inc. 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