Grand Banks acquires Palm Beach Motor Yachts

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Grand Banks has recently acquired Palm Beach Motor Yachts, a prestigious motor yacht company based in Australia. Palm Beach Motor Yachts was founded in 1995 by world-renowned sailor and seven-time Sydney to Hobart race winner Mr. Mark Richards, who will stay on as CEO of the enlarged Group. In the official press release, Grand Banks said, “the transaction would strengthen the position of the Singapore-listed luxury motor yacht builder as a global company with two world-class brands that are well represented in the leading markets of the North America, Australia, Asia and Europe.” Palm Beach Motor Yachts designs and builds five meticulously crafted, highly customizable luxury models ranging from 45 to 65 feet which will be a great addition to the Grand Banks Eastbay line.

HMY Yachts is proud to be a dealer for Grand Banks and looks forwards to this new acquisition of Palm Beach Motor Yachts. For more information about Grand Banks, please visit our Grand Banks page here: For more information about Palm Beach Motor Yachts please visit:

The model pictured above is a PB 50, first introduced to the US Market at the Newport International Boat Show in 2010 where it won "Best New Powerboat" as voted by judges of the boat show. The PB 50, along with the other models PB45, PB55, and PB65, is available in the Express or Flybridge model.

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