POLARIS ACQUIRES KOLPIN OUTDOORS, INC.
Addition of Kolpin enhances Polaris offerings in the powersports accessories market
MINNEAPOLIS (April 1, 2014) — Polaris Industries Inc. (NYSE: PII) today announced the acquisition of Kolpin Outdoors, Inc., a privately held, Wisconsin-based company that develops branded and private label powersports accessories. Committed to innovation and growth, Kolpin is a leading aftermarket accessory brand delivering purpose-built and universal-fit Off-Road Vehicles (ORV) accessories and outdoor lifestyle products. This acquisition adds Kolpin to Polaris’ growing parts, garments and accessories (PG&A) business. The terms of the transaction were not disclosed.
“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 lineup of exceptional products and deep consumer and retail relationships will help Polaris expand our aftermarket accessories portfolio and enhance our traditional and online distribution channels. ”
Kolpin products will continue to be sold under the Kolpin and Cycle Country brands, with customized private label products available through its Premier O.E.M. business. Polaris will further develop Kolpin’s established brand by applying its product innovation and engineering acumen to Kolpin’s operations, and leveraging its existing dealer and consumer relationships to extend the brand’s exposure.
“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, life-style brand focus and a rich heritage in product innovation,” said Tom Lutes, president and CEO of Kolpin. “I am confident the combination of Polaris and Kolpin will further enhance the value of our brand to both our consumers and distribution partners alike.”
Since 1943, Kolpin has a rich history of providing customers with a wide array of hunting products, accessories and innovative aftermarket solutions. Kolpin has an intimate knowledge of the outdoor lifestyle market that closely complements Polaris’ core powersports business.