The Polaris acquisition train rolls on as today Polaris announced it has acquired Kolpin Outdoors, a midwest-based company that makes aftermarket ATV and UTV accessories. Within the past three years, acquisitions by Polaris include: Primordial Inc., a developer of navigation software used by the U.S. military; Aixam Mega S.A.S., a company that manufactures and sells on-road quadricycles and light-duty commercial vehicles; clothing manufacturer Klim; two separate electric vehicle manufacturers, Goupil Industrie and Global Electric Motorcar; and iconic motorcycle brand Indian. While most of Kolpin’s products serve the off-road (dirt) markets, the snowmobile crossover/adventure touring segment is growing, so it will be interesting to see how this buyout will affect Polaris’ snowmobile accessories portfolio.
Here is the release from Polaris announcing its acquisition of Kolpin:
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 original equipment manufacturer 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, lifestyle 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.