In a significant reshuffling of the North American recreational boating landscape, BRP Inc. announced today the sale of its Manitou pontoon boat division to Twin Vee Inc., the family-owned parent company behind Bentley Pontoons. The deal, valued at approximately $285 million, marks BRP’s strategic pivot away from the luxury pontoon segment to refocus on its core powersports and personal watercraft businesses.
The Valcourt, Quebec-based powersports giant acquired Manitou just three years ago as part of an ambitious marine division expansion. However, according to BRP Chief Executive José Boisjoli, market conditions have shifted dramatically since then.
“While Manitou has performed admirably within our portfolio, we’ve identified greater growth opportunities in our traditional powersports segments,” Boisjoli stated during this morning’s investor call. “This divestiture allows us to reallocate capital toward initiatives that align more closely with our long-term vision.”
Industry analysts have been tracking BRP’s marine division performance closely since the company reported consecutive quarters of declining boat sales amid rising interest rates and inflation-squeezed consumer spending. The recreational boating sector has faced significant headwinds since its pandemic-fueled boom began cooling in late 2023.
Twin Vee’s acquisition represents a major consolidation play in the high-end pontoon market. The Florida-based manufacturer, owned by the Bennett family since 1997, has steadily built Bentley Pontoons into a premium brand competing directly with Manitou in the luxury segment.
“Bringing Manitou under our umbrella creates tremendous manufacturing synergies while maintaining two distinct premium brands,” explained Glenn Bennett, CEO of Twin Vee. “Our family has devoted decades to crafting exceptional pontoon boats, and Manitou’s heritage of innovation perfectly complements our existing operations.”
For industry observers, the transaction signals potential broader consolidation in the recreational marine sector. John Richards, marine industry analyst at Morgan Stanley, suggests this could be just the beginning.
“We’re seeing the first stages of what will likely be significant consolidation across recreational boating,” Richards noted. “Companies with strong balance sheets are positioning themselves to acquire premium brands at favorable valuations as the industry works through its current inventory challenges.”
The deal includes Manitou’s manufacturing facilities in Lansing, Michigan, where the brand has built its reputation for high-performance pontoon boats since 1986. All 375 Manitou employees are expected to transition to Twin Vee, according to company statements.
BRP confirmed the transaction is expected to close by September 2025, subject to regulatory approvals. The company plans to use proceeds primarily for debt reduction and share repurchases, with approximately $50 million earmarked for expanding production capacity at its Sturtevant, Wisconsin facility for Sea-Doo watercraft.
For consumers, both companies emphasize that warranty support and dealer networks will remain intact through the transition. Industry watchers at CO24 Business have noted that premium boat brands have demonstrated surprising resilience despite the broader slowdown in recreational spending.
As recreational boating navigates choppy economic waters, this deal may well represent the leading edge of a significant restructuring in how North Americans get out on the water. The question now becomes: which marine industry players will sink, and which will stay afloat?
