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Recent merger expands reach of broker business

Florida businesses that merge with other companies or that may fully acquire other operations can do so for a variety of reasons. In some instances, a merger or an acquisition can be pursued as a response to increasing competitive pressure. There are simply some times when buying out a competitor or joining forces with them is more advantageous especially when a clear competitive advantage cannot be achieved. 

Companies may choose to merge in order to expand their joint offerings and capabilities. For example, if one company sells a particular product and another company provides service on that product, a merger might be able to grow their business by putting sales and service under one name and roof. An increase in territory is another similar reason to merge. It is this reason that two Florida businesses appear to have come together.

Pier One Yacht Sales has completed its fourth merger now since 2013 as NI'O Yacht Group, originally founded in 1993, has become part of the company. This merger gives Pier One a total of 51 brokers throughout the state. Its operations are now located in Fort Lauderdale, Punta Gorda, Cape Coral, Fort Myers Beach and Madeira Beach. Pier One will now be one of the biggest brokers in Florida and leaders from both companies believe the move will benefit clients from both prior organizations.

Mergers can benefit businesses indeed but it might be helpful for company owners to consult with an attorney before making a final decision about whether or not to merger with another business.

Source: Trade Only Today, "Pier One Yacht Sales announces merger in Florida," May 11, 2017

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