Norwegian powerboat builder Cormate has acquired the Scandinavian boatbuilder Ryds.
Egil Ranvig, founder, owner and Chief Designer at Cormate, said: “We are not just acquiring a brand; we are inheriting a legacy. It’s about continuing Ryds’ successful journey with a fresh and dynamic approach. Our goal is to marry Cormate’s competence in innovative design, efficiency and seaworthiness, with Ryds’ rich history and professional production methodology, creating boats that transcend expectations.”
Ryds’ history goes back almost 80 years to 1946, with the production of leisure boats beginning in 1968. Ryds also has a background as one of the biggest producers of boats in the Nordic region, with close to 4,000 boats a year from its headquarters and production facilities in Ryd, Sweden. The company, which entered the UK market in August 2023, filed for bankruptcy in November 2023.
Cormate’s vision extends to a long-term investment, securing not only the acquisition but also the 8500m2 building.
“Acquiring Ryds’ operational property not only secures local know-how and valuable production expertise but also anchors our dedication to preserving a legacy of craftsmanship in Ryd, ensuring a prosperous future for the community and the renowned Swedish boat manufacturing landscape,” said Jon Aksel Brynildsen, CEO of Cormate.