US powerboat manufacturer MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) announced on Friday that it has completed its acquisition of US recreational and sport-fishing boat producer Marine Products Corporation (NYSE: MPX).

Marine Products shareholders received USD2.43 per share in cash and 0.232 shares of MasterCraft common stock, and its shares have been delisted from the New York Stock Exchange.

The deal combines MasterCraft, Crest, Balise, Chaparral and Robalo into a broader portfolio serving coastal and inland markets. MasterCraft said the enlarged group gains complementary dealer networks, greater scale and a stronger platform for product development and operational efficiency.