Island Packet

[Gabor15908]

Is there any new news about Island Packet closing the doors?
They were suppose to issue a statement in March....

 

[Stu Jackson]

Hake Yachts acquires Island Packet and Blue Jacket Yachts

Island Packet and Blue Jacket Yachts acquired by Hake Marine | Seaward Yachts

 

[kloudie1]

That is good .. all three of those are good boats for their niche.. I hope they can keep it up.

 

[Jackdaw]

I wish them all the luck in the world and hope they pull it off.

I do wonder however, what Hake thinks they can offer that was not there. Except money to burn thru while hoping for new boat orders. IP and BJ were dying because no-one was buying their boats. Simply changing owners will not change that.

 

[Stu Jackson]

Simply changing owners will not change that.

Right, Jack. And the part of the blurb that said "contract boatbuilding" or something like that caught my eye.

 

[Jackdaw]

Right, Jack. And the part of the blurb that said "contract boatbuilding" or something like that caught my eye.

Indeed. One unhappy model has Hake HAVING to do it to keep the the company that they chose to build their boats afloat. Once they stopped building their own boats, they because totally dependant on that company staying solvent. It's a great business model... Right up until it isn't.

 

[Gunni]

Oh, no doubt Hake had to do this, or join IP in the history books. But it looks like a good deal; they get the IP tradesmen and facilities they have been using at fire-sale prices, and access to the IP owners for parts sales, and repairs.

Meanwhile at the high end of the boat business, anyone want to buy Gunboat?

 

[mauruuru]

The current owner of Hake Yachts (a private investor from Indiana I think) just purchased IP and Blue Jacket. The combination might just be what will keep all three brands afloat...Hake moved their manufacturing to IP last year. I have a Seaward and after the purchase of Hake he made a lot of improvements. We'll see if it works out.