By Staff
Company buys out competitor, may bring facilities to N.C.
By DAN PARSONS
Staff Writer
CHOCOWINITY — The Fountain Powerboats Factory Store, only officially opened Friday, has already brought in more than $7 million in sales over a five-month period, according to company founder Reggie Fountain.
The ribbon on the new outdoor showroom at the Fountain Powerboats factory on Whichards Beach Road was cut during a reception Friday. But, Fountain said the store, where the company will sell its high-tech speed and fishing boats directly to customers, has been unofficially in business for at least four months.
The crowd gathered Friday in the outdoor showroom that will be the temporary factory store. Tom Thompson, the county’s chief economic developer, reminded attendees during his remarks that they were standing in the shadow of about $10 million worth of boats. Fountain said his plans are to build a “superstore” with an indoor showroom and offices under one roof sometime in the future.
The company previously sold its high-performance “go-fast” boats through dealers in North Carolina, South Carolina and Virginia. About a year ago, the decision was made to buy those dealers out and bring the retail sector of the business back to Beaufort County.
That isn’t all Fountain may be bringing to his operation on the south side of the Pamlico River, he announced Friday. Fountain is in the process of buying competitor Baja Boats, a move which could bring the company’s payroll to $15 million with 500-plus employees, Fountain said.
Baja succumbed to economic pressures and is going out of business, according to Fountain. Buying the company and using its assets is one of several business decisions, like opening the factory store, that should help Fountain keeps it’s “head above water,” he said.
Without the purchase of Baja, Fountain said his company was the “biggest high-performance boat builder by far.” It currently employs 335 people, most of which live in or around Beaufort County. Tom Thompson, the county’s chief economic developer, applauded Fountain for his “major economic development achievement” not only in Beaufort County but worldwide.
The company’s reputation for speed couldn’t have hurt its success. Last year, the company’s racing team won every major race in the U.S. and Europe. Fishermen on Fountain boats also reeled in trophies from every major striper and king mackerel tournament in the U.S.