Brunswick Corporation : Brunswick Corporation and Commercial Distribution Finance Renew Inventory Finance Agreement through 2019
LAKE FOREST, Ill. Aug. 5, 2015 – Brunswick Corporation (NYSE: BC) today announced an extension of its joint venture with Commercial Distribution Finance (GECDF), a division of GE Capital, through 2019. The joint venture, Brunswick Acceptance Company (BAC), was formed in 2002 and the current agreement was to expire at the end of 2016.
“This successful partnership has provided a stable and competitive source of wholesale floor plan financing along with high-quality service to Brunswick marine dealers for more than a decade,” explained Brunswick Chairman and Chief Executive Officer Dustan E. McCoy. “Through this extension, we are looking to ensure continued stability through 2019, while our partner, GECDF, transitions to new ownership. BAC will continue to be an important part of our offering to dealers, and enhances the competitiveness of our brands.”
“We have built an even stronger relationship with Brunswick dealers as a result of the joint venture over the last 13 years, and we are delighted to continue to serve them,” said Bruce Van Wagoner, president of GECDF’s marine business. “We will continue our successful collaboration with Brunswick to ensure the growth and health of the dealer network.”
The programs provided by BAC are exclusive to dealers of Brunswick boat brands and Mercury Marine engines in the United States. Currently more than 600 dealers participate in the programs, often with multiple Brunswick brands in their dealerships.
Headquartered in Lake Forest, Ill., Brunswick Corporation endeavors to instill “Genuine Ingenuity”(TM) in all its leading consumer brands, including Mercury and Mariner outboard engines; Mercury MerCruiser sterndrives and inboard engines; MotorGuide trolling motors; Attwood and Whale marine parts and accessories; Land ‘N’ Sea, Kellogg Marine, Diversified Marine, BLA and Bell RPG parts and accessories distributors; Bayliner, Boston Whaler, Brunswick Commercial and Government Products, Crestliner, Cypress Cay, Harris, Lowe, Lund, Meridian, Princecraft, Quicksilver, Rayglass, Sea Ray and Uttern boats, and Life Fitness, Hammer Strength and SCIFIT fitness equipment, and Brunswick billiards tables, accessories and game room furniture and InMovement products and services for productive well-being. For more information, visit http://www.brunswick.com.
About Commercial Distribution Finance
Commercial Distribution Finance (CDF) provided $46 billion in financing for more than 40,000 dealers and more than 2,000 distributors and manufacturers globally in 2014. CDF operates in 60 countries and provides inventory financing solutions, service and intelligence through in-depth industry expertise and commitment. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management, and related financial products. For more information, visit gecdf.com or follow company news via Twitter.
GE (NYSE: GE) imagines things others don’t, builds things others can’t and delivers outcomes that make the world work better. GE brings together the physical and digital worlds in ways no other company can. In its labs and factories and on the ground with customers, GE is inventing the next industrial era to move, power, build and cure the world. http://www.ge.com