Princess joins Grand Banks in split from Riviera

Australian luxury boatbuilder, Riviera, plans to focus exclusively on the development and build of its boats for its worldwide client base and dealer network following the breakup of its distribution rights for Princess Yachts and Grand Banks Yachts.

“The Riviera brand has achieved iconic status over 29 years and our future success will be driven by our ability to enhance that position,” said CEO John Anderson. “As we have previously announced, we are restructuring the Riviera business in order to survive the current economic climate.

“As a result, effective July 1, 2009, Riviera has announced that we are separating from Princess Yachts and Grand Banks Yachts as the distributors for Australia and NZ,” he said.

Princess Yachts said it will be setting up a new distribution network throughout Australia and NZ from that date, which it said followed The Riviera Group’s decision to go into voluntary receivership. The new distribution network, it continued, will work directly with Princess Yachts’ UK-based manufacturing, marketing and sales facilities.

Will Green, sales director at Princess Yachts International said: "Princess Yachts International has been working with R Marine since August 2006 and we feel that the cooperation between our companies has been a very positive one in terms of brand representation and in maintaining the highest levels of quality, service and customer care for our owners.

“Through the dedicated Princess team at R Marine, our relationship with Princess owners throughout Australia and NZ has gone from strength to strength and we are grateful for their efforts.

“Our relationship with Riviera has remained strong through these difficult times and it is our intention to work together over the coming months to realise a new distributorship structure for Princess with the help and assistance of the Riviera Group and their R Marine network of dealers, all of whom we have found to be both dedicated and highly professional," said Green.

Robert Livingston, CEO and president of Grand Banks Yachts Ltd said: "Grand Banks has enjoyed a long and successful association with Riviera for over 20 years. Initially, Riviera built selected models under licence for a period and, more recently, the R Marine dealership network has represented the Grand Banks brand since 2007 in Australia and NZ. During this period R Marine has contributed to the growth of Grand Banks in the region and has given our valued owners the care and respect they deserve.

“To ensure the ongoing support of Grand Banks customers, and to allow Riviera
to continue to restructure their business, Grand Banks has established a new sales and service network in Australia," Livingstone said.

All enquires regarding Princess in Australia and NZ can be directed to email: wgreen@princessyachts.com or alanpaterson1@bigpond.com

Enquiries regarding Grand Banks can be directed to Hank Compton at email: hankc@grandbanks.com

Both Princess Yachts and Grand Banks Yachts will have corporate displays on the marina at the 2009 Sydney International Boat Show.

For more information, visit www.riviera.com.au; www.princessyachts.com