Ocean Bio-Chemical announces acquisition of Snappy Marine
Ocean Bio-Chem subsidiary Star brite Distributing announces the acquisition of Snappy Marine, a manufacturer and distributor of teak care products, for the marine industry. CEO Peter Dornau, "We started looking at Snappy Marine, Inc. in early 2018. As discussions continued, we realized that Snappy had great brand recognition, which would fit nicely into the Star brite range of products. By acquiring Snappy Marine, Star brite acquires a brand of teak care products trademarked under the Snappy Teak Nu name, which has significant brand recognition in the boating/marine industry. The Snappy brand of products are known for high quality and superior performance in renewing weathered teak wood to like-new condition. Snappy Marine has a loyal customer base in both the US and international markets. We believe that together the Star brite and Snappy brands can be leveraged to increase sales of both brands. The strong economy continues to drive sales of new and pre-owned recreational boats, and increased recreational boating which, in turn, is increasing demand for boat care products, including teak care products. We believe the acquisition of Snappy will be accretive to net income in 2018."