Bénéteau Boating Solutions to take over Wiziboat
Wiziboat, a company founded in 2017 to offer self-service short-term rental solutions based on shared boats, is set to fall into the Bénéteau Group's lap. Under a memorandum of understanding signed on June 24, 2023, the Vendée-based group's Boating Solutions subsidiary, dedicated to services for yachtsmen and, in particular, rental, is to acquire 74% of the capital of the company, which has been listed in Paris on the Euronext market since 2021. To do so, it will take over 45.6% of the capital held by Prodaly, which is also present in the boating sector through the sale of American and Mediterranean boat brands. A capital increase of 1.0 million euros to 1.641 euros per share will complete the shareholding.
Pierre-Olivier Bidault-Siré remains Managing Director of Wiziboat.
Support Bénéteau's cash flow and diversify its business activities
For Wiziboat, which boasts 20 bases in France, the arrival of the Bénéteau Group should help finance growth. Indeed, the company concedes "rapid development, held back in recent months by insufficient financial resources." The 2022-2023 season is still expected to see sales growth of +30% to 0.9 million euros, but with a loss of around 0.5 million euros.
For the Bénéteau Group, the acquisition will enable it to accelerate in the services sector, where it has had strong ambitions for several years, with joint-venture investments in classic charter with Navigare Yachting and Dream Yacht, as well as in boat club with Your Boat.
