Marine Products Corporation (MPX)

Marine Products Corporation was a manufacturer of fiberglass recreational powerboats headquartered in Atlanta, Georgia. Its boat-building operations were centered on Chaparral Boats, founded in 1965 and based in Nashville, Georgia, and on Robalo, a maker of outboard sport fishing boats. The company was created through a spin-off from RPC, Inc. in 2001, a business that was part of the Rollins family group of companies, and it was listed on the New York Stock Exchange under the symbol MPX.

Chaparral built sterndrive and outboard pleasure boats, including sport boat, surf and luxury sportboat lines, while Robalo built center-console, dual-console and bay boats for saltwater and freshwater fishing. The company sold through a network of independent authorized dealers in the United States and abroad rather than directly to consumers. Its production relied on a single large manufacturing base in south Georgia.

Marine Products developed a reputation as a conservatively managed manufacturer with little debt, and it paid regular dividends to its shareholders. Its sales were sensitive to consumer confidence, interest rates, fuel prices and dealer inventory financing conditions. Demand surged in 2020 and 2021 during the pandemic boating boom, then weakened as interest rates rose and dealers worked to reduce inventories, leading to lower sales and earnings in 2023 through 2025.

In this softer market, consolidation among boat builders became a topic of strategic interest. MasterCraft Boat Holdings, Inc., a Tennessee-based maker of performance sport boats listed on Nasdaq under MCFT, announced an agreement to acquire Marine Products. MasterCraft's portfolio already included brands such as MasterCraft, NauticStar, Crest and Balise, and the deal was meant to add the Chaparral and Robalo brands and increase its scale.

The agreement valued the transaction at approximately $232.2 million, net of acquired cash. Each share of Marine Products common stock was converted into the right to receive $2.43 in cash and 0.232 shares of MasterCraft common stock, so a portion of the consideration moved with the price of MasterCraft stock. The transaction required approval from Marine Products shareholders and customary regulatory clearance.

MasterCraft announced completion of the acquisition in May 2026, with the NYSE filing a Form 25 dated May 15, 2026 to remove Marine Products' common stock from listing and registration. Marine Products became a wholly owned subsidiary of MasterCraft, and former MPX shareholders received MasterCraft shares along with the cash component.