New ownership for Bertram Yachts
by Risa Merl
The Gavio Group has officially acquired US sportfish yacht builder Bertram Yachts from the Ferretti Group.
Argo Finanziaria, a holding of the Gavio Group, had signed a preliminary agreement in a letter of intent with Ferretti to takeover Bertram, with the acquisition expected to be finalised by 31 March 2015. The Gavio Group, owners of Italian superyacht builder Baglietto, sees the acquisition as a chance to enhance the Group's brand portfolio in terms of the types of yachts it can offer and its reach into the US market.
Bertram Yachts was established by Richard Bertram in 1960. The iconic US builder is known for its famed Moppie yachts, built from 1960 to 1990s. The high-performance runabouts were stars on the motor yacht racing circuit, and the very first Bertram 31 Moppie won the Miami-Nassau Race in 1960, defying the worst weather conditions of the event's history to still break the race record by four minutes. The Ferretti Group acquired Bertram in 1998, and production has focused on its line of sportfishing yachts, its flagship being the Bertram 80.
Gavio Group's acquisition of Bertram follows the takeover of Cantieri Cerri in 2011 and Baglietto in 2012.
"I am very pleased with this acquisition", says Beniamino Gavio, president of Argofin and Baglietto. "Bertram is for sure the brand most similar to Baglietto as they share many common features: a family history characterised by legendary yachts; records broken and competitions won; a logo that, for both brands, is a symbol of freedom and strength (the eagle and seagull); and a very strong national identity that goes hand in hand with far-reaching international fame."