Baltic Yachts intends to buy Italian motorboat manufacturer

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Finnish shipyard Baltic Yachts has made an official offer to purchase the famous Italian motorboat brand Cantieri di Pisa. The company is ready to spend more than €3 million for the acquisition.

Baltic Yachts showed its interest in buying the brand as early as in April, but the last two months were taken for conduction of legal due diligence and discussing transaction conditions. Apart from Finnish shipbuilder, one of the holdings from the Middle East also sent an application for an international tender for Cantieri di Pisa.

The interim administration, which currently manages the Italian shipyard, is to accept one of the offers within the next 60 days.

The new owner will not only have the right to manufacture boats under the brand name but will also have production facilities on the banks of the river Arno in Tuscany.

The Cantieri di Pisa brand was launched in 1945. It was launched in the 1960s with a range of motoryachts named after constellations including Pegasus, Saturno, Jupiter, Polaris and Kitalpha. Complementing these models was the Akhir superyacht series, designed by renowned yacht designer Pier Luigi Spadolini, which has become iconic.

In 2015 the famous name and factory in Tuscany was acquired by the Italian company Mondomarine. Two years later, Mondomarine was declared bankrupt, followed by a scandalous trial for fraud, the transfer of property to the temporary administration and the sale of the plant in Savona.

Baltic Yachts, founded in 1973, specializes in building carbon composite sailing yachts. The company has a fleet of yachts between 15 and 60 metres LOA. In addition, a few years ago the shipyard expanded its range with carbon-fibre powerboats designed by Design Unlimited.

Having won the tender for the purchase of Cantieri di Pisa, the company intends to continue the production of sailboats in Finland and use the Italian facility to develop the production of motor yachts.

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