BUFORD, Ga., December 02, 2021 (GLOBE NEWSWIRE) – OneWater Marine Inc. (NASDAQ: ONEW) (“OneWater” or the “Company”) today announced that it has completed the previously announced acquisition of Norfolk Marine Inc. ( “Norfolk Marine”). Norfolk Marine expands the company’s presence in the central United States and improves new and used boat sales, financings, and parts and service offerings.
“The OneWater family is delighted to officially welcome Jason Murphy and the Norfolk Marine team to our platform and to expand our presence in the mid-US. We look forward to supporting the continued growth of our very first dealer in the State of Virginia, ”said Austin Singleton, CEO of OneWater.
About OneWater Marine Inc.
OneWater Marine Inc. is one of the largest and fastest growing premium pleasure craft retailers in the United States. OneWater operates 72 stores in 12 different states, eight of which are in the top twenty states for marine retail spending. OneWater offers a wide range of products and services and has diversified revenue sources, which include the sale of new and used boats, parts and accessories, financing and insurance products, maintenance services and repair and ancillary services such as boat storage.
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This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including regarding our strategy, future operations, financial condition, outlook, management plans and objectives, rate of growth and his expectations for the future. revenue, operating profit or loss or profit or loss per share. In some cases, you can identify forward-looking statements because they contain words such as “may”, “will”, “will”, “will likely result”, “should”, “expect”, “expect”, ” plans “,” “could”, “would”, “plans”, “intends”, “targets”, “projects”, “plans”, “believes”, “estimates”, “predicts”, “potential” , “outlook” or “continue” or the negative of those words or other similar terms or expressions regarding our expectations, strategy, plans or intentions. These forward-looking statements are not guarantees of future performance, but are based on on management’s current expectations, assumptions and beliefs regarding future developments and their potential effect on us, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Our expectations expressed or implied in these statements forecasts may prove to be inaccurate.
Significant factors, some of which are beyond our control, that could cause actual results to differ materially from our historical results or from those expressed or implied by such forward-looking statements include the following: ” industry-wide sourcing and our ability to maintain adequate inventory, changes in demand for our products and services, the seasonality and volatility of the boat industry, our acquisition and business strategies, failure to comply with financial and other covenants and measures in our credit facilities, cash flow and access to capital, the effects of the COVID-19 pandemic and related government actions or restrictions on the operations of the Company, the risks associated with the ability to realize the anticipated benefits of any proposed or recent acquisition on time or not at all, including the risk that proposed acquisitions or recent acquisitions will not be integrated successfully, timing of development spending and other risks. Further information about these risks and other potential factors that could affect our financial results is included in our filings with the Securities and Exchange Commission, including in the sections “Risk Factors” and “Discussion and Analysis by the Commission. Management of Financial Position and Results of Operations ”in our annual report on Form 10-K for the fiscal year ended September 30, 2020 and in our quarterly reports subsequently filed on Form 10-Q, each of which is filed with SEC and available on the OneWater Marine website at www.onewatermarine.com under the “Investors” tab and in other documents that OneWater Marine files with the SEC. Any forward-looking statement speaks only as of the date on which such statement is made and, except as required by law, we do not undertake to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.