TRENTON, Maine — Two local luxury yacht makers are joining forces in a purchase agreement announced Tuesday.
Hinckley Yachts indicated in a brief written statement that it has acquired Morris Yachts. Terms of the sale were not disclosed.
According to the statement, Hinckley acquired the assets of Morris Yachts on Friday, Jan. 1. Hinckley indicated it plans to continue using the Morris brand as it absorbs Morris’ boat-building and service operations in eastern Maine.
“Both companies build fine quality yachts within a quarter mile of each other in Trenton, Maine,” Hinckley wrote in the release. “With the new arrangement, about 380 craftsmen, engineers and technicians will provide a deep pool of talent for the building of world-class yachts. “
Hinckley Yachts, founded in Southwest Harbor in 1928, makes luxury sailing and power yachts. In the 88 years since then, the company has expanded to include facilities in Florida, Georgia, Maryland, Michigan, New Jersey and Rhode Island. It has eight service yards along the East Coast and counts 1,500 Hinckley yacht owners and 5,000 service customers among its worldwide clientele.
In 1998, Hinckley opened a manufacturing facility off Route 3 in Trenton where it builds power picnic boats. Hinckley itself was acquired by Scout Partners LLC at the end of 2010.
Morris Yachts, a smaller company with about two dozen employees, was founded 40 years ago and has built more than 300 sailboats. Morris, which bills itself as “America’s premier builder of sailing yachts from 29 to 80 feet,” last year hired a new CEO in Pete Carroll and opened a new waterfront service yard in Falmouth.
Morris officials were not immediately available Tuesday morning for comment. With the acquisition, Morris Yacht owners can now bring their boats for servicing at any of Hinckley’s facilities along the East Coast, Hinckley officials indicated.
Roe O’Brien, director of marketing for Hinckley, said Tuesday that no other immediate operational changes have been planned as a result of the acquisition. She said additional details about the purchase were not available but that more information may be released sometime in the near future.
“We’re thrilled to have the companies join hands,” O’Brien said. “We’re delighted to have another great Maine brand in the family.”