West Marine buys BoatU.S.

Cataloger/retailer West Marine has acquired the catalog, retail, and wholesale units of BoatU.S. from the Boat Owners Association of the United States for $72 million in cash, including the assumption of some debt. West Marine expects to reap $140 million in additional annual revenue from the acquisition.

West Marine has 258 stores in the U.S. and Canada; BoatU.S. has 62 stores. The Boat Owners Association of the United States will continue to offer services to boat owners, such as towing, marine insurance and boat financing.

Under terms of the deal, Watsonville, CA-based West Marine will promote membership in the association, while BoatU.S. will point its members to West Marine to buy supplies. West Marine plans to retain the BoatU.S. name on the stores. The company estimates that there is a 70% overlap of SKUs between the brands.