Ranger Boats Plans $13M Expansion, To Add 115 Jobs

Fishing Holdings of Flippin, the parent company of Ranger Boats, on Wednesday announced a $13 million expansion of its manufacturing facility, creating 115 jobs in the Marion County town.

The new jobs will increase total employment at the plant to about 540 people, the Arkansas Economic Development Commission said in a news release.

Ranger Boats, founded in 1968 by Forrest L. Wood, is the largest maker of premium fiberglass fishing boats, the AEDC said.

"We’re very fortunate to have a world-class manufacturing facility that’s home to such wonderful employees and some of the industry’s strongest brands," said Randy Hopper, president of Fishing Holdings.

Fishing Holdings, owned by an affiliate of Platinum Equity of Los Angeles, is home to Ranger, Stratos and Triton brand boats. Platinum Equity, a merger and acquisitions company, bought Ranger and several other boat brands in February 2010 from Genmar Holding Inc. of Minneapolis.

Genmar, a privately held company, filed for bankruptcy protection in June 2009. The company was a casualty of the recession, and Ranger Boats had been cutting its work force of more than 800 employees since late 2008.

Ranger Boats, and Wood, are legends in the world of tournament fishing, as detailed in a May 2008 Arkansas Business article before the company started feeling the full effects of the economic downturn.

"The progress we’ve made recently would not have been possible without the support of Governor Beebe and the state’s Economic Development Commission," Hopper said in the release. "It’s a partnership we’re very proud of and look forward to being able to serve our community and the Natural State in an even greater capacity."

"Ranger Boats is an Arkansas institution and a brand respected worldwide," said Gov. Mike Beebe. "We are excited to see the company’s continued growth and thank Ranger for this show of confidence in North Arkansas and its people."

Fishing Holdings has worked hard during the last several months integrating the production of Stratos Boats, including the Champion brand, into its Flippin plant, the AEDC said. And after its acquisition of the Triton brand, the company began moving to produce Triton Boats at the Flippin facility as well.

That signaled "another boost to manufacturing volume and a visible need for expansion and additional employees," the release said.