Breaking: Majority Ownership Stake in Correct Craft Sold!

One of our contacts in the industry recently contacted us to share some news about an ownership change at Correct Craft. The details are still thin, and of course nothing has been confirmed, but here's what we believe to be true: The Meloon family had held the controlling stake in Correct Craft since its inception, making it the oldest family owned boat manufacturer in the world. In preparation for retirement, the eldest Meloon has sold his share of the company business, reducing the family's share in the company to less than 50%. The new majority owner has not been made public, but apparently it is an individual, and not a a group of owners or a private equity firm as we've seen with Malibu and Mastercraft lately. The fact of the matter is, with litigation continually influencing more and more of the decisions that are made in America, estate planning is a very real concern for all privately held companies once they reach a certain size. We can only assume, that as was the case with Malibu, this transition is to better address those legal issues. Here's to hoping the new relationship will be a fruitful one for Correct Craft and all parties involved. We'll keep you updated as we learn more.