Kadey-Krogen Acquires American Tug

The Kadey-Krogen Group seems to be moving ahead at full throttle these days having just announced its acquisition of American Tug. The LaConner, Washington-based American Tug has built 250 vessels to date and currently offers five models in the 36- to 48-foot range. This comes in the wake of the Kadey-Krogen Group launching Summit Yachts in 2020.

“It’s really an exciting opportunity for us to acquire such a successful boatbuilder, led by a team that we’ll be collaborating with on day one,” says Tucker West, Kadey-Krogen Group President. “They have a healthy backorder of boats, a great reputation in this market, and most importantly a customer base that really loves their American Tugs. We immediately identified how our companies will complement each other and, most importantly, how the customers will benefit. This includes expanded distribution for American Tug through Kadey-Krogen’s sales offices in Portsmouth, R.I.; Annapolis, Md.; Seattle, Wash., and Stuart, Fla. We are also working with American Tugs leadership to expand service and refit offerings for Krogen and Summit customers at their LaConner facility and leverage their west coast sales.”

The company says that the acquisition, “will not affect the production of either the American Tugs, Krogen or Summit brands,” but hints at a future where the companies will be working together on the production side. There’s no talk of it at the moment, but it will be interesting to see if that means a future U.S.-built Kadey-Krogen or Summit yacht.

As word breaks across social media, the news is largely being celebrated among trawler owners with many expressing their affinity for both brands. We’ll be keeping a close eye on what this means for these venerable brands.

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Source: https://www.powerandmotoryacht.com/newsfyi/kadey-krogen-acquires-american-tug