OneWater Marine to Acquire Marine Industry Supplier Ocean Bio-Chem for USD 125m.

MANews-(C)2009-2022

US-based marine retailer OneWater Marine Inc. (NASDAQ: ONEW) has agreed to acquire Florida-based marine industry supplier Ocean Bio-Chem, Inc. (NASDAQ: OBCI) for USD 13.08 per share, in an all-cash transaction valued at approximately USD 125m, the company said.

The acquisition is expected to advance the growth of parts and accessories business.

As part of the transaction, OneWater will also acquire OBCI's affiliate, Star Brite Europe, Inc. Upon closing of the transaction, both OBCI and Star Brite Europe, Inc. will be integrated into T-H Marine Supplies, LLC, OneWater's subsidiary and strategic growth platform for parts and accessories businesses.

As a vertically integrated supplier, OBCI manufactures, markets, and distributes a broad line of products and...

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