Yacht retailer purchases $35M company

CLEARWATER — MarineMax, the largest recreational boat and yacht retailer in the United States, acquired Massachusetts-based Russo Marine.

With more than $35 million in revenue in 2015, Russo is the largest privately owned boat dealer in the Northeast, a statement says. It has three locations that serve the Massachusetts and Rhode Island coastal markets. Terms of the deal were not disclosed.

“Russo Marine joining the MarineMax team provides us with a valuable presence in the important Boston and related coast markets,” says William McGill Jr., chairman, president and CEO of MarineMax, in the statement. “With the addition of Russo, we further strengthen our position to serve the many boaters that migrate along the Atlantic seaboard from the Northeast to Florida.”

Clearwater-based MarineMax (symbol: HZO; recent price: $18.25) currently has 56 retail locations serving 16 states.