GE Capital’s Commercial Distribution Finance (CDF) business announced today an extension through 2016 of its dealer finance programs with Brunswick Corporation in the U.S. and Canada. This extension will provide Brunswick’s dealer network with inventory financing for its boat brands as well as Mercury Marine engines.
In the U.S., CDF and Brunswick agreed to extend their joint venture, known as Brunswick Acceptance Company (BAC). Formed in 2002, BAC provides a long-term source of wholesale inventory financing for Brunswick boat dealers. BAC is the largest floorplan finance provider for Brunswick boat brands and Mercury Marine engines in the U.S., as well as one of the largest providers of wholesale financing programs and service to the marine industry.
“We are very happy to continue our joint venture relationship with Brunswick for another four years,” said Bruce Van Wagoner, president of CDF’s marine business. “We are committed to providing their dealers with flexible financing and the best customer experience possible to help them succeed.”
“Our relationships with our dealers extend well beyond providing them with just great boats and engines,” said Brunswick chairman and chief executive officer Dustan E. McCoy. “We have long believed that, as our dealers prosper, so will we. BAC has a demonstrated ability to provide market-leading products and services as a stable and affordable source of financing. It’s an important tool dealers can use to help provide boaters with a fully satisfying ownership experience. Further, the extension of this agreement is a reflection of our confidence in BAC as well as the commitment that the partners have in the U.S. marine industry.”
In Canada, CDF renewed its agreement to be the strategic inventory finance provider for Brunswick boat dealers through 2016. “Over the years, we have developed great relationships with their dealer network, and we look forward to continuing to serve them at the highest level,” said Howard Shiebler, president of CDF Canada.