BNW Brunswick Corp

RNS Number:5392X
Brunswick Corp
08 April 2004

Brunswick Completes Acquisition of Three Aluminum Boat Brands

LAKE FOREST, Ill., Apr 2, 2004 -- Brunswick Corporation (NYSE: BC) said today it
has completed its previously announced acquisition of the Crestliner, Lowe and
Lund aluminum boat brands from Genmar Industries, Inc. for approximately $191
million in cash. The transaction also contains provisions for additional
consideration of up to $30 million to be paid in three years based on the
achievement of a minimum 10 percent after-tax cash flow return on total
investment over that time period. Further, Brunswick will receive future tax
benefits, which have a net present value of about $35 million.

The purchase includes Crestliner, Inc., based in Little Falls, Minn.; Lowe
Boats, Inc., based in Lebanon, Mo.; Lund Boat Company of New York Mills, Minn.,
and Genmar Boats Canada, Inc. (which produces the Lund brand in Canada), of
Steinbach, Manitoba. Each of these companies produces numerous models of
aluminum fishing, pontoon, deck and utility boats ranging from 10 to 25 feet.
Combined, these entities had sales of approximately $311 million in the year
ended June 30, 2003.

The company said that the purchase of these businesses would be accretive to
earnings this year, adding approximately $0.08 to $0.10 per diluted share for
the nine months remaining in 2004.

Brunswick Chairman and Chief Executive Officer George W. Buckley said, "This
acquisition represents an important step in achieving our goal of 'filling the
white spaces' in our product line-up by giving us a presence in the important
aluminum boat segment. We welcome these companies and their employees to the
Brunswick family."

Forward-Looking Statements

Certain statements in this press release are forward-looking as defined in the
Private Securities Litigation Reform Act of 1995. These statements involve
certain risks and uncertainties that may cause actual results to differ
materially from expectations as of the date of this release. These risks
include, but are not limited to, the effect of a weak economy and stock market
on consumer confidence and thus on demand for marine products; the impact of
interest rates, fuel prices and weather conditions on demand for marine
products; the ability to maintain product quality and service standards expected
by our customers; the ability to successfully integrate acquisitions; the
ability to maintain effective distribution; competitive pricing pressures; and
the financial strength of dealers and independent boat builders. Additional
factors are included in the company's Annual Report on Form 10-K for 2003.

About Brunswick

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; Teignbridge propellers; MotoTron electronic
controls; Northstar marine electronics; Navman GPS-based products; IDS dealer
management systems; Sea Ray, Bayliner, Maxum, Hatteras, Meridian and Sealine
pleasure boats; Baja high-performance boats; Boston Whaler and Trophy offshore
fishing boats; Crestliner, Lowe, Lund and Princecraft aluminum fishing, deck and
pontoon boats; Attwood marine parts and accessories; Land 'N' Sea marine parts
and accessories distributor; Life Fitness, Hammer Strength and ParaBody fitness
equipment; Brunswick bowlingcenters, equipment and consumer products; Brunswick
billiards tables; and Valley-Dynamo pool, Air Hockey and foosball tables. For
more information, visit www.brunswick.com .

SOURCE Brunswick Corporation

Dan Kubera, Director - Financial and Public Relations of
Brunswick Corporation, +1-847-735-4617  www.brunswick.com




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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