February 2000
NEW OWNERS FOR BLUEWATER BOOKS & CHARTS

FORT LAUDERDALE —Bluewater Books & Charts, America’s largest nautical bookseller and nautical chart agency, has been sold to Far Horizons LLC.

Far Horizons is a new Florida company owned by John J. Mann III and Vivien P. Godfrey.

John is a native of Gloucester, MA and, after growing up by the ocean, he has been landlocked with major U.S. corporations (General Foods, Pillsbury, Jostens) for 30 years in various sales, marketing and general management positions. He reports that he is enthusiastic about owning a business in the fast-growing and thriving marine industry and about relocating to Fort Lauderdale, after living in Minneapolis for nine years. John is a sailor.

Vivien grew up in London, England, and lived in five countries before moving to the U.S. in 1992. She trained as a geographer at Oxford University, but her career to date has been in consulting with McKinsey & Company and in the food industry with Diageo PLC. Her father and grandfather were both in the map and travel book business in the UK, and she is excited about returning to her roots in cartography. Vivien and John were married in 1997.

To ensure a smooth transition, John has become president of Bluewater Books & Charts and will be responsible for Bluewater’s day-to-day operations. "I plan to keep Bluewater’s core business on a steady course," he said. "I want Bluewater to continue to provide the best selection of nautical books and charts in America and continue to provide the kind of customer service that brings customers back to Bluewater over and over again."

Vivien is president of Far Horizons, with her focus on growth. "We are very definitely expansion-minded," she said, "and we will be looking at a wide range of opportunities to grow the company—and to find new and better ways to serve Bluewater’s customers."

Founded in 1986, Bluewater began life as a mom-and-pop business operated by Milt and Judy Baker on Fort Lauderdale’s busy 17th Street Causeway. Over the past 14 years, the company has shown consistent growth and enlarged its space four times.

Bluewater stocks over 35,000 nautical books and charts, with true worldwide chart coverage. The company offers America’s largest selection of nautical charts and cruising guides.

Electronic charting has been responsible for a large share of Bluewater’s growth. The company began selling electronic charts in 1989 and for several years has been America’s largest seller of electronic charting.

"Electronic charting is the single most important innovation in marine navigation since radar was introduced more than 50 years ago," said Milt Baker, one of Bluewater’s former owners. "It’s going to continue to play a major role in navigation aboard everything from small boats to megayachts, and I am certain that Bluewater will continue to lead the way in selling electronic charting solutions."

Bluewater has a single location in Fort Lauderdale, but more than 40 percent of its revenues in 1999 were from catalog and Internet sales. The company has a staff of 30.

In its advertising and marketing, Bluewater stresses the experience of its sales people. "Bluewater’s average sales person has more than 25 years of boating experience and has cruised over 25,000 miles," said John Mann, Bluewater’s new president. "That’s Bluewater’s secret weapon!"

"When we decided to sell Bluewater, we wanted very much to sell it to someone who would continue to focus chiefly on bringing value to Bluewater’s customers," said Milt Baker, "because that’s what’s made Bluewater grow."

"There’s no question that’s what John and Vivien will do," Baker said, "and I’m looking forward to seeing Bluewater continue to set the pace under their guidance selling nautical books, paper charts and electronic charts."

"We are very pleased that Milt and Judy Baker, Bluewater’s founders, will continue to be with the company in the months ahead," said Vivien Godfrey, president of Far Horizons LLC. The Bakers have agreed to work with Bluewater’s new owners as consultants for at least a year.

What’s in the cards for Milt and Judy Baker after Bluewater?

"We’re committed first to helping Bluewater’s new owners get off to a good start," said Judy Baker, one of Bluewater’s founders. "But we’re also looking forward to spending more time cruising aboard our own boat. Right now, we’re looking hard at a summer cruise to Maine and Canada."

The acquisition of Bluewater Books & Charts by Far Horizons LLC was managed by Bill Russell, principal of the mergers and acquisition firm Southeast Business Partners, Inc. in Fort Lauderdale, Florida.