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312:(OMC). The opening bid was set at $ 38.5M plus $ 5M for royalties and future sales of boats. OMC won the auction with a high bid of $ 58M. For its $ 58M, OMC acquired the tangible and intangible assets of Chris-Craft including the manufacturing facilities in Bradenton, Florida; Goshen, Indiana; and Swansboro, North Carolina. OMC also acquired the right to use the Chris-Craft name from Chris-Craft Industries in exchange for a yearly licensing fee of $ 500,000 plus 1% of Chris-Craft sales.
35:
118:
185: – in 1874 when he was 13 years old. In 1881, he joined his brother Henry to begin manufacturing boats full-time. In 1910, the brothers joined with other partners to form the Smith Ryan Boat and Engine Company, focusing on building fast, economically-priced runabout boats for mass-market distribution. Their products made their debut at the New York and Chicago Boat Shows that year.
291:
In 1988, Pharaon hired independent auditors to go through the financials of the company. The resulting audit detailed serious accounting irregularities. The auditors estimated that the company had $ 77M in assets and $ 40M in debt. Pharaon, now majority owner of Murray Chris-Craft, pushed George Dale
283:
Chris-Craft's annual sales plateaued in 1986 at around $ 180M. As the company grew, George Dale Murray became involved in various real-estate ventures, which included a sizeable investment in the
American Community Development Group (ACDG). The ACDG investment did not go well for Murray, and as early
237:
In 1964, Chris-Craft launched the all-fiberglass Chris-Craft
Commander. This dramatic new design was unveiled at the New York City National Boat show, perched at the top of an escalator on a giant, castered cradle. This first Commander was a 38' express hardtop with a 13' beam. The line of Commanders
206:
With the United States entering the Second World War in 1941, Chris-Craft shifted its focus to producing military goods, including patrol boats, rescue vessels, and utility launches for the United States Army and Navy. By the end of hostilities in 1945, the company had constructed in excess of 12,000
279:
Chris-Craft's annual sales for 1984 were $ 120M. While the turnaround at Murray Chris-Craft seemed to be going smoothly, the relationship between partners George Dale Murray and Dick Genth was souring. Murray wanted to move Genth out of running the day-to-day operations of the company, and in August
233:
Chris-Craft was acquired by
Shields & Company's National Automotive Fibers, Inc. (NAFI) in 1960. In 1962, the new owners renamed the company Chris-Craft Industries, Incorporated. In 1962, the company acquired the Old Crown Brewing Corporation, a brewery company based in Fort Wayne, Indiana. Old
262:
In fulfilling a commitment to return to powerboat racing, in 1984 Murray Chris-Craft developed the new 300 Chris-Cat, a racing catamaran powered by twin 400 or 420 horsepower high performance power plants and was added to its 1984 sport boat fleet. The boat went on to set new speed records in its
210:
Following the war, Chris-Craft introduced a new lineup of civilian pleasure boats in time for the great
American consumer market expansion of the 1950s. The company sold high-end boats to famous customers, such as Dean Martin, Katharine Hepburn, Frank Sinatra, and Elvis Presley. The boats were
241:
Between the 1960s and 1980s, Chris-Craft increasingly moved toward fiberglass as a construction material of choice, primarily because of its durability and low maintenance requirements. Chris-Craft ended production of its last mahogany-hulled boat, the
Constellation, in 1971.
214:
That decade marked the height of company prestige, and the brand name Chris-Craft became virtually synonymous with pleasure boating. At one time, the company offered 159 different models, and it was the sales leader in many categories of small civilian powerboats.
295:
In the meantime, Chris-Craft continued to lose money. It was estimated that Chris-Craft was losing $ 2M/month in the second half of 1988. The situation for the company had become untenable, and on
December 9, 1988, Chris-Craft filed for bankruptcy.
266:
In addition to developing the Chris-Cat models for racing, Murray Chris-Craft also raced its deep-v, offshore
Stinger models. Most notably, a 1984 Chris-Craft 312 won the Golden Gate to Spruce Goose race sponsored by Powerboat Magazine in 1984.
315:
OMC went into bankruptcy in 2000 and was purchased by Genmar
Holdings. Genmar sold the Chris-Craft division in 2001 to Stellican Limited, a British private equity firm. Stellican then purchased the Chris-Craft trademark from
218:
Chris-Craft constructed its first fiberglass boat in 1955, and by 1957, the company purchased the Roamer Boat
Company and began manufacturing metal boats under its newly formed Roamer Steel Boats Division (RSBD).
276:. Five Stinger 390Xs were supplied to the show for filming of the premiere and first-season episodes. The show became a hit, and the placement of the Stingers on the show produced increased sales at Chris-Craft.
250:
In the face of declining sales due to the recession of the late 1970s and early 1980s, Chris-Craft
Industries sold its boat division to George Dale Murray and a small group of investors that included Dick Genth,
211:
typically made from mahogany, and they were considered to be among the best available. They were easy to operate and maintain, which was a significant requirement for their "weekend sailor" owners.
203:
In 1927, Chris Smith's son, Jay Smith, took over the company as President and General Manager – positions he would hold for the next 31 years. Chris Smith died in 1939, at the age of 78.
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879:
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1984, he offered the position of vice-chairman to Genth. Genth declined the offer, and resigned from Chris-Craft. Ernest J. Schmidt took over as president of Chris-Craft.
255:, and Walt Schumacher in 1981. Chris-Craft Industries retained the Chris-Craft trademark and licensed it to Murray. Chris-Craft Industries was subsequently acquired by
263:
class that year and in years to come. Murray believed that a racing program would benefit the company to develop safe, performance watercraft for its customers.
854:
304:
In February 1989, the assets of Murray Chris-Craft were put up for auction by the court handling Chris-Craft's bankruptcy. A bidding war broke out between
859:
864:
270:
In 1984, Chris-Craft worked out a deal with Michael Mann Productions to have its 39-foot Stinger 390X featured on their new television show,
343:
The 2024 Chris-Craft model collection includes the Launch, Launch GT, Catalina and Calypso lines, which range in length from 24 to 35 feet:
726:
874:
869:
16:
This article is about the current company established in 2000. For the original company founded in the late 19th century, see
616:
192:. The company name was changed to Chris-Craft in 1924. Chris-Craft sold high-end powerboats to wealthy patrons, such as
595:
710:
317:
256:
292:
Murray out of the company and brought a suit against him seeking $ 34M in damages and $ 106M in punitive damages.
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377:
335:
309:
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288:. Pharaon began buying shares in 1986, and by 1988, he owned approximately 80% of Murray Chris-Craft.
284:
as 1986, he began looking to sell his shares in Chris-Craft. Murray found a buyer for his shares -
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Catalina – Center console outboard boats ranging from 24’ to 34’ in length
350:
Launch GT – Dynamic and versatile bowrider vessels ranging from 25' to 35'
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706:
189:
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66:
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Calypso – Dual console outboard boats ranging from 24' to 35' lengths
151:, was founded in the late 19th century by Christopher Columbus Smith (1861–1939) in
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305:
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soon grew to include sizes ranging from 19' to 60' — all "styled in fiberglass."
620:
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159:-hulled powerboats from the 1920s through the 1950s. It was succeeded by
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is an American manufacturer of recreational powerboats that is based in
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and then Murray Chris-Craft before becoming Chris-Craft Corporation.
87:
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Chris Smith built his first wooden boat – a simple
117:
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In 1922, Smith formed the Chris Smith & Sons Boat Company in
70:
143:
Chris-Craft Corporation is at least the fourth iteration of the
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109:
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392:
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20:. For the former manufacturing and broadcasting company, see
389:
885:
Companies that filed for Chapter 11 bankruptcy in 2000
880:
Companies that filed for Chapter 11 bankruptcy in 1988
761:. Force 12 Media, LLC. January 7, 2007. Archived from
347:
Launch – An open bow day cruiser at 27'
330:
323:
On June 4, 2018, Chris-Craft was sold by Stellican to
234:
Crown was sold to its employees a short time later.
132:. Since June 4, 2018, the company has been owned by
755:"Everything Old Is New Again: The New Chris Craft"
841:
320:, thus reuniting the two parts of the company.
299:
222:
207:small boats for the United States military.
855:Manufacturing companies established in 2000
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370:
33:
259:in 2000 for its television subsidiaries.
860:Manufacturing companies based in Florida
719:
367:
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842:
821:, ChrisCraft.com (accessed 2018-06-09)
809:, ChrisCraft.com (accessed 2018-06-09)
797:, ChrisCraft.com (accessed 2022-01-13)
785:, ChrisCraft.com (accessed 2018-06-09)
727:"Murray Chris-Craft Chapter 11 Filing"
700:
696:
694:
446:"Chris-Craft Company History 1861-74"
386:(June 4, 2018). Retrieved 2018-06-09.
245:
865:Companies based in Sarasota, Florida
450:Chris-Craft Company History 1861-74
331:Chris-Craft boat production in 2024
166:
13:
691:
654:"Chris-Craft Company History 1984"
571:"Chris-Craft Company History 1955"
546:"Chris-Craft Company History 1950"
521:"Chris-Craft Company History 1941"
496:"Chris-Craft Company History 1941"
471:"Chris-Craft Company History 1927"
421:"Chris-Craft Company History 1910"
14:
896:
828:
378:"Chris-Craft bought by Winnebago"
675:"Chris-Craft Stingers - History"
575:Chris-Craft Company History 1955
550:Chris-Craft Company History 1950
525:Chris-Craft Company History 1941
500:Chris-Craft Company History 1941
475:Chris-Craft Company History 1927
425:Chris-Craft Company History 1910
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147:company. The original company,
875:2000 establishments in Florida
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136:, an American manufacturer of
1:
870:2018 mergers and acquisitions
400:"Chris-Craft Company History"
360:
121:2019 Chris-Craft Launch 35 GT
300:Subsequent ownership changes
223:Chris-Craft Industries, Inc.
7:
310:Outboard Marine Corporation
155:. It became famous for its
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15:
705:(2 ed.). Han\Tunca.
701:Tunca, Han (2017-04-27).
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93:
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51:
41:
32:
383:Sarasota Herald-Tribune
327:, the RV manufacturer.
198:William Randolph Hearst
126:Chris-Craft Corporation
28:Chris-Craft Corporation
850:American boat builders
703:The End of Chris-Craft
679:chriscraftstingers.com
642:Chris-Craft Industries
596:"Funding Universe.com"
340:
229:Chris-Craft Industries
161:Chris-Craft Industries
122:
22:Chris-Craft Industries
338:
138:recreational vehicles
120:
325:Winnebago Industries
134:Winnebago Industries
100:Winnebago Industries
835:Chris-Craft website
765:on January 27, 2010
735:. December 13, 1988
29:
732:The New York Times
341:
286:Dr. Ghaith Pharaon
246:Murray Chris-Craft
123:
110:www.chriscraft.com
27:
190:Algonac, Michigan
173:Chris-Craft Boats
149:Chris-Craft Boats
130:Sarasota, Florida
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18:Chris-Craft Boats
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318:News Corporation
257:News Corporation
167:Original company
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819:Calypso Series
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623:on 16 May 2011
617:"Indiana Beer"
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767:. Retrieved
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621:the original
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339:Launch 25 GT
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62:Headquarters
42:Company type
739:January 23,
405:16 November
844:Categories
769:2017-11-14
684:2017-05-31
659:21 January
627:21 January
601:21 January
580:21 January
555:21 January
530:21 January
505:21 January
480:21 January
455:21 January
430:21 January
361:References
273:Miami Vice
194:Henry Ford
88:Motorboats
46:Subsidiary
308:and the
157:mahogany
153:Michigan
84:Products
67:Sarasota
52:Industry
106:Website
71:Florida
709:
95:Parent
181:, or
179:skiff
741:2019
707:ISBN
661:2015
629:2015
603:2015
582:2015
557:2015
532:2015
507:2015
482:2015
457:2015
432:2015
407:2017
196:and
183:punt
77:USA
846::
757:.
729:.
693:^
677:.
573:.
548:.
523:.
498:.
473:.
448:.
423:.
391:^
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369:^
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663:.
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409:.
24:.
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
