GE Capital Extends Financing Program for 1,200 Brunswick Marine Dealers across U.S. and Canada

Tue Mar 19, 2013 8:00am EDT

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CHICAGO--(Business Wire)--
GE Capital`s Commercial Distribution Finance (CDF) business announced today an
extension through 2016 of its dealer finance programs with Brunswick Corporation
in the U.S. and Canada. This extension will provide Brunswick`s dealer network
with inventory financing for its boat brands as well as Mercury Marine engines. 

In the U.S., CDF and Brunswick agreed to extend their joint venture, known as
Brunswick Acceptance Company (BAC). Formed in 2002, BAC provides a long-term
source of wholesale inventory financing for Brunswick boat dealers. BAC is the
largest floorplan finance provider for Brunswick boat brands and Mercury Marine
engines in the U.S., as well as one of the largest providers of wholesale
financing programs and service to the marine industry. 

"We are very happy to continue our joint venture relationship with Brunswick for
another four years," said Bruce Van Wagoner, president of CDF`s marine business.
"We are committed to providing their dealers with flexible financing and the
best customer experience possible to help them succeed." 

"Our relationships with our dealers extend well beyond providing them with just
great boats and engines," said Brunswick chairman and chief executive officer
Dustan E. McCoy. "We have long believed that, as our dealers prosper, so will
we. BAC has a demonstrated ability to provide market-leading products and
services as a stable and affordable source of financing. It`s an important tool
dealers can use to help provide boaters with a fully satisfying ownership
experience. Further, the extension of this agreement is a reflection of our
confidence in BAC as well as the commitment that the partners have in the U.S.
marine industry." 

In Canada, CDF renewed its agreement to be the strategic inventory finance
provider for Brunswick boat dealers through 2016. "Over the years, we have
developed great relationships with their dealer network, and we look forward to
continuing to serve them at the highest level," said Howard Shiebler, president
of CDF Canada. 

For more than 50 years and through all business and economic cycles, CDF has
offered customer-centric floorplan financing programs that enable marine dealers
to stock a broad selection of new and pre-owned products. Floorplan financing,
also known as inventory financing, is an important element of a successful
manufacturer-dealer business model as manufacturers and distributors benefit
from enhanced product flow and increased sales opportunities, and dealers obtain
improved terms and credit availability. 

About Brunswick Corporation

Headquartered in Lake Forest, IL, Brunswick Corporation endeavors to instill
"Genuine Ingenuity"(TM) in all its leading consumer brands, including Mercury
and Mariner outboard engines; Mercury MerCruiser sterndrives and inboard
engines; MotorGuide trolling motors; Attwood marine parts and accessories; Land
'N' Sea, Kellogg Marine, and Diversified Marine parts and accessories
distributors; Bayliner, Boston Whaler, Brunswick Commercial and Government
Products, Crestliner, Cypress Cay, Harris FloteBote, Lowe, Lund, Meridian,
Princecraft, Quicksilver, Rayglass, Sea Ray, Trophy, Uttern and Valiant boats;
Life Fitness and Hammer Strength fitness equipment; Brunswick bowling centers,
equipment and consumer products; Brunswick billiards tables and foosball tables.
For more information, visit http://www.brunswick.com. 

About GE Capital, Commercial Distribution Finance

GE Capital, Commercial Distribution Finance provided nearly $31 billion in
financing for more than 40,000 manufacturers, dealers and distributors across
North America in 2012. Programs include inventory and accounts receivable
financing, asset-based lending, private label financing, collateral management
and related financial products. Customers have access to exclusive online tools
and analytics to manage their accounts and inventory. For more information,
visit http://www.gecdf.com/ or follow company news via Twitter
(https://twitter.com/GEInventoryFin). 

GE Capital offers consumers and businesses around the globe an array of
financial products and services. For more information, visit www.gecapital.com
or follow company news via Twitter (https://twitter.com/GECapital). 

GE (NYSE: GE) works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in energy,
health and home, transportation and finance. Building, powering, moving and
curing the world. Not just imagining. Doing. GE works. For more information,
visit the company's website at www.ge.com.

GE Capital, Americas
Lisa Tibbitts, 203-956-4582
lisa.tibbitts@ge.com
or
Brunswick Corporation
Dan Kubera, 847-735-4617
daniel.kubera@brunswick.com

Copyright Business Wire 2013

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