Terms of the transaction were not disclosed.

"This decision was part of our strategic review to further refine our product portfolio and to best concentrate our resources on our continuing brands and the marine segments in which we compete," says Brunswick Chairman and CEO Dustan E. McCoy.

"A primary goal at Brunswick going forward is to better exploit our opportunities for organic growth and to gain share in the marketplace. For the past several years, we have been steadily transforming our operating model and business structure to be more consistent with the changing marine market. With the global presence of Sea Ray, Bayliner, Meridian, Hatteras and Boston Whaler, as well as our involvement in regional brands around the globe, Brunswick maintains its leading presence in the world's marine markets."

The Brunswick Boat Group is the largest manufacture of pleasure boats in the world, with 2010 net sales of US$913 million. It produces numerous brands, including Sea Ray, Bayliner, Hatteras, Sealine, Boston Whaler and Cabo Yachts.