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Brunswick Corporation : Brunswick Announces Plan To Exit Hatteras And CABO Brands



2013-01-03 22:28:49 -


LAKE FOREST, Ill. Jan. 3, 2013 --- Brunswick Corporation (NYSE: BC) announced
today that its board of directors has authorized the Company to seek a buyer for
its Hatteras and CABO brands of motoryachts and sportfishing convertibles.

"This action reflects our decision to exit the sportfishing convertible category
and to concentrate our resources in the yacht segment on our remaining brands,
Sea Ray and Meridian Yachts.  When completed, this action will also contribute
to our goal of a break-even or better Boat Segment in 2013, even if the larger
sterndrive/inboard fiberglass markets do not improve," said Brunswick Chairman
and Chief Executive Officer Dustan E. McCoy.

"The current plan assumes that the eventual purchaser will retain both the
physical plant and the talented workforce of Hatteras/CABO.  During the sale
process, which we seek to complete in an expeditious manner, Hatteras and CABO
will maintain ongoing operations, and we will keep our employees and dealer
network informed of our progress."

As a result of this decision, the Company expects to record charges in the range
of $70 million to $80 million, a majority of which will be recorded in the
fourth quarter of 2012.

Brunswick purchased Hatteras Yachts in 2001 and CABO in 2006. Both are based in
New Bern, N.C.

Forward-Looking Statements
Certain statements in this news release are forward-looking as defined in the
Private Securities Litigation Reform Act of 1995. Such statements are based on
current expectations, estimates and projections about Brunswick's business.
 These statements are not guarantees of future performance and involve certain
risks and uncertainties that may cause actual results to differ materially from
expectations as of the date of this news release.   Economic, competitive,
governmental and other factors that may affect Brunswick's operations are
discussed in the "Risk Factors" section of the Company's Annual Report on Form
10-K for 2011 and are incorporated by reference.  Such forward-looking
statements speak only as of the date on which they are made and Brunswick does
not undertake any obligation to update any forward-looking statements to reflect
events or circumstances after the date of this news release, or for changes made
to this document by wire services or Internet service providers.

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; Attwood marine parts and accessories; Land
'N' Sea, Kellogg Marine, and Diversified Marine parts and accessories
distributors; Bayliner, Boston Whaler, Brunswick Commercial and Government
Products, Cabo Yachts, Crestliner, Cypress Cay, Harris FloteBote, Hatteras,
Lowe, Lund, Meridian, Princecraft, Quicksilver, Rayglass, Sea Ray, Trophy,
Uttern and Valiant boats; Life Fitness and Hammer Strength fitness equipment;
Brunswick bowling centers, equipment and consumer products; Brunswick billiards
tables and foosball tables.  For more information, visit
www.brunswick.com.

###

+----------+---------------------------------------------------------+
| Contact: | Daniel Kubera |
| | Director - Media Relations and Corporate Communications |
+----------+---------------------------------------------------------+
| Phone: | 847-735-4617 |
+----------+---------------------------------------------------------+
| Email: | daniel.kubera@brunswick.com |
+----------+---------------------------------------------------------+

+----------+---------------------------------------------------+
| Contact: | Bruce Byots |
| | Vice President - Corporate and Investor Relations |
+----------+---------------------------------------------------+
| Phone: | 847-735-4612 |
+----------+---------------------------------------------------+
| Email: | bruce.byots@brunswick.com |
+----------+---------------------------------------------------+





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Source: Brunswick Corporation via Thomson Reuters ONE
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