Brunswick Corp. (BC) Wednesday said it has acquired Cybex International Inc., a maker of commercial fitness equipment, for $195 million.
Founded in 1970, Cybex offers a full line of cardiovascular and strength products largely serving the commercial fitness market. Cybex will join Brunswick's Life Fitness Division's portfolio of leading brands. Cybex's 2015 sales were estimated at about $169 million.
In 2016, the Company believes the acquisition will contribute net benefits of $0.08 to earnings per share, excluding planned restructuring and integration costs. Including the impact of this transaction, Brunswick's current expectation for 2016 EPS is now in the range of $3.35 to $3.50, as adjusted.
By 2018, the final year of Brunswick's current three-year plan, this acquisition will contribute an incremental $0.20 earnings per share, excluding planned restructuring and integration costs, which increases Brunswick's targeted EPS range, as adjusted, to $4.55 to $4.95.
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