The expansion of Polaris Industries into the boating industry took another step recently when the Medina, Minnesota-based company announced it was acquiring the Larson Boat Group from Marquis-Larson.
The news broke on Friday on the website of our sister trade publication, Boating Industry, which reported that Rob Parmentier, president and CEO of Marquis-Larson Boat Group announced that the Larson Boat Group has been sold to Polaris Industries in a letter to that corporation’s dealers.
“The sale of the company, means production will move and take place at another facility,” Parmentier said in the letter. “The moving of materials and assets will begin, immediately.”
The letter also said that Parmentier expects Polaris to begin sharing with dealer partners their business process and procedures, how Larson strategically fits into their marine growth plans, along with the appropriate introductions and sharing of information to transition partner’s business into theirs and vice versa.
A followup email sent on Polaris president of its boating division, Jake Vogel, confirmed the transaction.
“Marquis will no longer be manufacturing the Larson brand of boats. Any future boats manufactured under these brands (Larson, FX, Striper, Escape) will be produced by Polaris Boats” at its Rinker boat production facility in Indiana. The email stated that Polaris intends to discontinue the Escape line of pontoons and will continue with the other Larson Boat Group brands.
Polaris entered the boating industry in May 2018, when it acquired Boat Holdings, LLC, in an all-cash transaction valued at a net present value of approximately $805 million. Also last summer, Ski-Doo maker BRP jumped deeper into the boating water with the purchase of Alumacraft in June and Triton in August.
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