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Program to Test In-Store Pontoon Placement in Select Tractor Supply Locations Across the Northern Texas Region
GARLAND, Texas, June 6, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, today announced it has launched a Pontoon Boat Pilot Program with Tractor Supply Company, the largest rural lifestyle retailer in the United States, for in-store product placement in select Texas store locations.
For more than 85 years, Tractor Supply Company has been passionate about serving the needs of recreational farmers, ranchers, homeowners, gardeners, pet enthusiasts and all those who enjoy living Life Out Here. The company operates over 2,200 Tractor Supply stores in 49 states, and currently sells a variety of kayaks, canoes, fishing boats and pedal boats. Massimo Marine products will be the first pontoon boats available in Tractor Supply Company stores, including the entry level P-22 Limited Pontoon on the floor, and the mid-level P-24, T-25 and T-30 lineup of boats available to order.
"Building on the success of our current agreement with Tractor Supply Company providing our full Massimo Motor product lineup online and in stores, we now have the opportunity to offer Massimo Marine products to customers of the largest rural lifestyle retailer in the US," said David Shan, Founder, Chairman & CEO of Massimo. "This in-store pilot program will include 6 stores closest to our headquarters in Dallas, and if successful could become a regular in-store item and rollout to more locations across the United States. We believe Massimo Marine will resonate with Tractor Supply Company customers looking for American made Pontoons that offer luxury boating at an affordable price.
"Massimo Marine is laser focused on utility and value with a limited number of pontoon product offerings versus our peers, and this expansion with Tractor Supply Company would support cross selling motor vehicles and marine products. We continue to see strong demand in our marine segment, with the North America pontoon boat market expected to grow from $1.2 billion in 2021 to $2.0 billion by 2028 according to Business Market Insights. Looking ahead, combined with new product initiatives and a growing distribution network, we believe Massimo Marine will continue to expand its revenue and profit contribution to our brand in the years to come," concluded Shan.
Massimo Marine's lineup of premium Pontoon boats are skillfully crafted and meticulously assembled in the USA, ensuring the utmost attention to detail, safety, and durability. Pontoon boats offer a luxurious and comfortable experience for pontoon enthusiasts, offering a range of options for optimal power and featuring a variety of comfort and convenience amenities.
Massimo Marines P-22 Limited Pontoon boats offer a luxurious and comfortable experience for entry-level pontoon enthusiasts. Equipped with 40hp up to 115hp Mercury outboard engines, the Pontoon boats offer a range of options for optimal power. Additionally, boats feature a variety of comfort and convenience amenities, including 4×6.5″ interior speakers, 5.5″ touchscreen LCD audio display, Black Painted Fence Rail Finish, USB Ports, 12V Port, optional ski tow, Bimini-mounted anchor/navigation light, Mooring eye on the starboard side for tie-offs, Motor-stop safety lanyard, and an Antenna.
About Tractor Supply Company
For more than 85 years, Tractor Supply Company has been passionate about serving the needs of recreational farmers, ranchers, homeowners, gardeners, pet enthusiasts and all those who enjoy living Life Out Here. Tractor Supply is the largest rural lifestyle retailer in the U.S., ranking 291 on the Fortune 500. The Company's more than 50,000 Team Members are known for delivering legendary service and helping customers pursue their passions, whether that means being closer to the land, taking care of animals or living a hands-on, DIY lifestyle. In store and online, Tractor Supply provides what customers need – anytime, anywhere, any way they choose at the low prices they deserve. As of March 30, 2024, the Company operated 2,233 Tractor Supply stores in 49 states. For more information on Tractor Supply, visit www.tractorsupply.com.
About Massimo Group
Massimo Group (NASDAQ: MAMO) is a manufacturer and distributor of powersports vehicles and pontoon boats. Founded in 2009, Massimo Motor believes it offers some of the most value packed UTV's, off-road, and on-road vehicles in the industry. The company's product lines include a wide selection of farm and ranch tested utility UTVs, recreational ATVs, and Americana style mini-bikes. Massimo Marine manufacturers and sells Pontoon and Tritoon boats with a dedication to innovative design, quality craftsmanship, and great customer service. Massimo is also developing electric versions of UTVs, golf-carts and pontoon boats. The company's 286,000 square foot factory is in the heart of the Dallas / Fort Worth area of Texas in the city of Garland. For more information, visit massimomotor.com and massimomarine.com.
Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering and the use of proceeds thereof. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "estimate," "expect," "intend," "may," "predict," "project," "target," "potential," "seek," "will," "would," "could," "should," "continue," "contemplate," "plan," and other words and terms of similar meaning. These forward-looking statements include information concerning statements regarding future cash needs, future operations, business plans and future financial results; and any other statements that are not historical facts. No assurance can be given that the proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Massimo, including those set forth in the "Risk Factors" section of Massimo's Registration Statement on Form S-1 for the initial public offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. Massimo undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Company
Dr. Yunhao Chen
Chief Financial Officer
Massimo Group
ir@massimomotor.com
Investor Relations
Chris Tyson
Executive Vice President
MZ North America
Direct: 949-491-8235
MAMO@mzgroup.us
