Grand Caribbean Marinas consolidates 2 marinas in Fajardo
Grand Caribbean Marinas, a Bacalia Group company, announced the consolidation of Isleta Marina and Blue Coast Boat Park in Puerto Rico, both located in Fajardo.
With this purchase — whose financial terms were undisclosed — GCM will control more than 3,000 slips between wet slips and dry storage and has “strengthened its position among the top five marina owners and operators, with the most slips in the United States,” company executives said.
“Combining Isleta Marina and Blue Coast represents another step forward for Grand Caribbean Marinas toward being a dominating player in the Southeast United States’ recreational boating industry,” said Giuseppe Cicatelli, president of Bacalia Group.
“Isleta Marina adds an additional segment of boaters including sailboats, and Blue Coast Marina allows us to expand our capacity at the boat park facilities,” he said.
Isleta Marina has been in business for approximately 38 years and includes several facilities with 240 wet slips, a boatyard offering repair facilities, a slipway and travelift, as well as a sailmaker, a restaurant, and a marine store.
Despite the recession fears, “the outlook for the nautical industry remains bright, and there is a continued interest in recreational boating,” he said.
Meanwhile, Marlon Mellado, CEO of Grand Caribbean Marinas, said “we continue our path of expansion in the marina industry. We have incorporated an investment plan to substantially improve the boatyard offerings and the travelift facilities at Isleta Marina, which are unique in terms of availability and location in the Caribbean.”
Last year, Grand Caribbean Marinas bought Villa Marina, also in Fajardo, which it renamed Renaissance Villa Marina.
At the time, Grand Caribbean Marinas confirmed plans to take the investment in the facilities from $50 million to $100 million in the next five years.