Azimut|Benetti Enters New Era with Fraser Takeover
The Azimut|Benetti Group has taken over the Fraser brokerage house in full, increasing its share from 83% to 100%. With Italy’s most prolific yacht builder now in charge of a brand responsible for over 50 superyacht sales a year; we look at the vision behind the takeover.
Azimut|Benetti Group has acquired the remaining share capital from V.Ships, a minority shareholder of Fraser for many years, leading the Group's stake in Fraser to 100%. As always, this takes part of a larger development strategy which is to perfect a number of services surrounding, not only brokerage and sale, but charter and yacht management.
The yachts sold by Fraser on an annual basis runs at a counter value of more than half a billion euro, and holds about 15% worldwide market share.
Mr. Paolo Vitelli, Azimut|Benetti Group President, commented on the acquisition at the turn of October: "This recent acquisition is part of the strategic plan of our Group – which has been leading the luxury yacht industry for 17 years – to offer the owners not only the most beautiful yachts, but also the utmost service. We are the only player in the yachting industry that takes care of the owner along the entire process, from yacht purchasing to management, refit and repair service, crew recruitment and chartering to resale.”
With a 15% market share and 120 superyachts in the management portfolio, the brokerage house is undeniably global; however, expansion remains the vision with further offices now online in Hong Kong & New York. This joins a reach of offices in Munich, Fort Lauderdale, San Diego, Seattle, London, Palma, Bodrum, Doha, Dubai, Kuwait, Singapore and Sydney.
Europe is a major focus in terms of global demand, with a vision to strengthen the Group’s superyacht and ‘gigayacht’ construction arm (90-metres and above). With three large yachts already in production and a fleet of mid-range and smaller Benetti and Azimut yachts approaching launch, we look forward to hearing more on the new era of an Italian giant.