May 1 (Reuters) - BRP Inc DOO.TO :
* BRP TO ACQUIRE TELWATER, AUSTRALIAN LEADER IN ALUMINUM BOATS, REINFORCING MARINE PORTFOLIO
* ENTERED INTO AGREEMENT TO ACQUIRE 80% OF OUTSTANDING SHARES OF TELWATER PTY LTD
* PAUL PHELAN, TELWATER'S CURRENT OWNER AND MANAGING DIRECTOR WILL HOLD 20% OF COMPANY'S OUTSTANDING SHARES
* BRP- ONCE ACQUISITION IS COMPLETED, TELWATER WILL JOIN BRP MARINE GROUP AS INDEPENDENT PRODUCT LINE, ALONG WITH EVINRUDE, ALUMACRAFT AND MANITOU BRANDS