Malibu Boats Acquires Finland’s Saxdor for €150 Million (1)

Malibu Boats Inc. has bought Finland-based Saxdor Yachts for €150 million ($176 million), expanding its footprint in Europe as the US recreational boating market cools from pandemic-era highs.

The Tennessee-based manufacturer is acquiring Saxdor with a mix of cash and stock, according to a statement Monday confirming an earlier report by Bloomberg News. Founded in 2019, Saxdor has built a dealer network across more than 50 countries and established itself in premium adventure day boats — a segment Malibu sees as central to its international growth strategy.

“Our strategy has been: how do we grow geographically?” said Malibu Chief Executive ...