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| Kolpin's primary business is manufacturing ATV/UTV accessories, including private label work for other aftermarket brands, and contracts for other OE vehicle manufacturers - some analysts are saying that this business, said to be worth up to 25 percent of Kolpin's turnover, could now be at risk in the long-term under Polaris' ownership |
POLARIS Industries continues on the acquisition trail, buying Kolpin Outdoors, Inc., a privately owned, Wisconsin-based company that is best known for its off-road vehicle (ORV) accessories, and branded and private label powersports accessories and outdoor lifestyle products. This acquisition adds further to Polaris’ growing parts, garments and accessories (PG&A) business.
“Acquiring Kolpin Outdoors, Inc. creates a multitude of growth opportunities for our PG&A business, which is a key contributor to Polaris’ top-line growth and profitability,” said Steve Eastman, Polaris’ Vice President of PG&A. “Kolpin is a trusted brand among ORV riders, hunters, outdoorsmen and landowners who value the quality and reliability Kolpin builds into their powersports accessories.
"Their line-up of exceptional products and deep consumer and retail relationships will help Polaris expand their aftermarket accessories portfolio and enhance their traditional and online distribution channels.”
Founded in 1943, Kolpin products will continue to be sold under the Kolpin and Cycle Country brands, with customised private label products available through its Premier O.E.M. business. Speaking for Kolpin, President and CEO Tom Lutes said that “it gives all of us at Kolpin great pride to become part of the Polaris family. Although different in size, we share many of the same values...small town roots, quality products, lifestyle brand focus and a rich heritage in product innovation.”
In 2013 Polaris posted sales of $3.8 billion. Polaris specialises in snowmobiles and off-road vehicles, and having established a presence in the heavyweight cruiser and touring motorcycle market with Victory, the company added the Indian Motorcycle brand two years ago and launched the first models in a new range at EICMA in November last year.
This isn't the company's first play on the ultility off-road vehicle sector, having bought the French Aixam Mega business four years ago, and having made a play for the on-road small electric/hybrid powered vehicle industry with the acquisition of American "neighbourhood electric vehicle" (NEV) manufacturer Global Electric Motorcars (GEM), and Bourran, France-based specialist Goupil Industrie SA, a manufacturer of on-road, commercial electric vehicles. Other strategic investments by Polaris in recent years have included acquisition of the Klim apparel brand.
www.polaris.com