Large nautical groups: from the ogre Bénéteau to the fall of Bavaria
The general trend in the boating industry is towards recovery. All the federations of yachting players have confirmed this at the end of 2018, the industry has returned to sales figures comparable to 2008, before the crisis. Yet these amounts should not hide the fact that as the size of units sold has increased, their number has decreased. This evolution towards the high-end has had consequences on the market, but seems to have become problematic.
One example is the German Bavaria Yachtbau Group, which held the global yachting industry in suspense for many months. The Bavarian manufacturer of sailing and motor boats, idled for long months between April and September 2018, under administration. Finally bought by an investment fund, it will abandon the production of its largest sailboat in 2019 and its hybrid boats too complex to focus on a limited number of models.
At the other end of the spectrum, the Bénéteau Group is showing its determination to diversify its offer and continue to multiply new models. The year was marked for the Vendée-based leader in the marine industry by the acquisition of slovenian sailboats Seascape and of the Polish group Delphia . Bénéteau is thus able to relaunch the First range with modern small yachts and is acquiring valuable production capacity in Poland. This good news should not hide some difficulties, such as those of the Italian subsidiary Monte Carlo Yachts, specialized in large yachts, and the departure of its founder Carla Demaria, or those of its dealers, like the largest of them, Chemins d'Océans .
Between the two, the American group Brunswick has a strategy of refocusing. Several reorganizations have separated the marine business more clearly from the rest of its fitness-related brands. The most significant development for Brunswick in 2018 was the Failure of the sale of the SeaRay brand which the American leader wanted to get rid of. It finally decided to stop the production of the large units, again problematic. The group has also separated from the Scandinavian niche brand Bella Boats .
Mid-sized shipyards between integration and diversification
From multihull to monohull, from sail to motor, from semi-rigid to paddle... it's time to diversify. The first striking example is the buyout of Dufour yachts by their neighbors Fountaine-Pajot catamarans is also the result of a local synergy. The Experton group, owner of the top-of-the-range and traditional Wauquiez and Tofinou sailboats, is also taking advantage of its proximity to La Rochelle to open up to motor sailing with the buyout of the Rhea yard . The Italian shipyard Del Pardo, builder of the Grand Soleil sailboats, will also be able to continue its diversification into powerboats after the Hanse Group stopped the lawsuit against the Pardo 43. The management buyout of the company reinforces the strategy .
Further away from pure shipbuilding, vertical integrations are being established with engine and equipment manufacturers. Zodiac Nautic will now be able to offer its own paddles to complement its RIBs with the acquisition of Anonym SUP. The BRP Group, a heavyweight in outboard engines through Evinrude, also offers opportunities with the small Alumacraft yard .
Multihull, again and again!
Even if it is repeated year after year, multihulls are still one of the most dynamic sectors.
While the Dufour catamaran experiment may come to a halt, the Fountaine-Pajot takeover is further proof of the health of the multihull sector. The Grand Large Yachting group is moving forward with the integration of the American brand Gunboat, which has been repatriated to France, and is pushing the Explocat from its Garcia shipyard. Following the difficulties of Bavaria, the Nautitech shipyard should regain more autonomy . The TS3, little brother of Christophe Barreau's TS 42, has found a new builder, Mestral Marine Works in Spain. We have also seen the arrival of foreign builders on the top of the range catamarans, such as Ita Catamarans or McConaghy.
New catamaran brands have also been announced in France in 2019. The most anticipated is probably Excess, launched by the Bénéteau Group with ambitions and marketing noise to match its power, but we can also mention Windelo, launched by Olivier Kauffmann of Orange Marine.
On three hulls, Neel Trimarans continues to grow strongly, as shown by the acquisition of TechniYacht Pinta to ensure its production capacity .
The profusion of multihulls on offer now tends to fill the niches left between mass-produced catamarans and the very top of the range.
Transmission among the craftsmen of the nautical industry
After the big names, the nautical industry is carried by many local shipyards, born from the passion of their founders. Passing on the baton and joining forces with experienced entrepreneurs is often the way to maintain the balance and dynamism of these structures. In 2018, we have seen the takeover of Marine Composite the manufacturer of the Bihan 6.50, of Pro Marine , d' Espace Vag, builder of the Ikone cat-boats . FunYak and Rigiflex have joined forces . The transmission does not exclude a certain continuity, in the image of Marsaudon Composites whose founder Sam Marsaudon remains in the company with the new owners or the new Pabouk Company, which includes the discontinued models of the Pabouk range in partnership with the founder Antoine Carmichael.
From the largest to the smallest, all yacht builders had to get their act together to deal with the market recovery. Consolidation marked 2018, while fortunately leaving room for the birth of new projects, particularly towards smaller boats. How will they respond to the evolution of the market and the new uses outlined by the evolution of services in 2018? Elements of an answer in 2019!
