Polaris Becomes Every 50-Year-Old Minnesota Man
As my dad would often tell my mother whenever he would make a big purchase, "Look what followed me home!". I'm not quite sure that's how it played out at the corporate headquarters of Polaris after it was announced yesterday they had bought the boat manufacturer Boat Holdings LLC, the nation’s biggest maker of pontoon boats, for $805 million. The deal is the largest acquisition by value in Polaris’ 64-year history.
Much like most 50-year-old-guys here in Minnesota, Polaris now has a boat, to go along with their ATV's, side-by-sides, and Indian Motorcycles.
The deal makes Polaris a manufacturer of things that go fast in the dirt and a touch slower out on the water. The side-by-side maker now has four popular boat brands, including the leader in pontoons, Bennington, and a catalog of about 200 boat models with prices ranging from $14,000 to $150,000.
As far as where the boats will be made, Boat Holdings LLC, had two manufacturing plants in Elkhart and another in Syracuse, Ind. Both locations are slated to continue to manufacture the boats for the foreseeable future.