Riviera CEO: Sale rumour doesn’t float my boat
RIVIERA has shot down rumours the boat building company is back on the market just months after it was sold.
Riviera CEO Wes Moxey said it was ‘‘absolute rubbish’’ that the Coomera-based luxury boat company had put up the For Sale sign again, despite rumours circulating within the industry.
‘‘I’ve also heard that rumour, one of the dealers asked me,’’ he said.
‘‘We are always getting approaches and there are various parties from Asia that are looking around for deals but it is not for sale.’’
Mr Moxey said Rodney Longhurst, who bought Riviera in March this year, had no intention of selling but may be swayed if the price was right.
‘‘He didn’t buy it to sell,’’ said Mr Moxey. ‘‘He’s not the guy to sell but everyone has got a price.
‘‘It is not the time to be rushing out and destabilising the business.
‘‘Our competitors are propagating these rumours.’’
Mr Longhurst was among several buyers who battled to purchase Riviera earlier this year after the company spent recent years in receivers’ hands.
Maritimo boss Bill Barry-Cotter, who built Riviera then sold it for $180 million in 2002, made a failed bid to buy back the company but is said to have lost interest.