OneWater Marine Inc. Signs Definitive Agreement to Acquire Ocean Bio-Chem, Inc.

BUFORD, Ga. and FT. LAUDERDALE, Fla., June 22, 2022 (GLOBE NEWSWIRE) -- OneWater Marine Inc. (NASDAQ:ONEW) (“OneWater” or the “Company”) announced today that it has signed a definitive agreement to acquire Ocean Bio-Chem, Inc. (NASDAQ:OBCI) (“OBCI” or “Ocean Bio-Chem”), a leading supplier and distributor of appearance, cleaning, and maintenance products for the marine industry and the automotive, powersports, recreational vehicles, and outdoor power equipment markets, for $13.08 per share, in an all-cash transaction valued at approximately $125 million. As part of the transaction, OneWater will also acquire OBCI’s affiliate, Star Brite Europe, Inc. Upon closing of the transaction, both OBCI and Star Brite Europe, Inc. will be integrated into T-H Marine Supplies, LLC, OneWater’s subsidiary and strategic growth platform for parts and accessories businesses.