Motorcycle Industry News
The Polaris name is already widespread across the motorcycle industry. The company has always been a top name in ATVs and snowmobiles, and took the American motorcycle industry with the development of its subsidiary brand, Victory Motorcycles.
The Minnesota-based Polaris Industries Inc. then further built upon its name in the American motorcycle market, acquiring the iconic Indian Motorcycle brand.
Now, Polaris is building upon another segment – its parts, garments and accessories (PG&A) business. On Thursday, Polaris reported it acquired Teton Outfitters LLC., a privately-owned company that designs, develops and distributes KLIM Technical Riding Gear. The terms of the transaction were not disclosed.
The Rigby, Idaho-based KLIM, which is expected to have 2012 sales close to $30 million, garners much attention in the world of adventure-motorcycle gear.
Steve Eastman (Polaris Vice President of PG&A) says: “The KLIM acquisition provides yet another growth opportunity for our PG&A business, a key contributor to Polaris’ top-line growth and profitability.
“KLIM is an established leader in the powersports apparel market with a strong track record of providing innovative, premium technical riding gear to a broad range of consumers. Adding an outstanding brand like KLIM, whose strengths complement our existing business, gives us a more complete PG&A product lineup, one which will flourish in the global market. We are excited to welcome KLIM employees into the Polaris family. With our common culture and vision, we believe this will be a mutually beneficial partnership for everyone involved.”
Polaris reports that it will maintain the KLIM brand positioning and name while continuing to drive its existing apparel brands. KLIM will continue operations in Rigby with its current staff. Polaris has plans to establish the Rigby facility as its new apparel Center of Excellence, bringing the unmatched capabilities, expertise and knowledge housed in Rigby to all Polaris branded apparel.
Justin Summers (KLIM Founder, President & CEO) says: “I built KLIM with a passion for the category and a commitment to the world’s adventure snowmobile and motorcycle riders. We had a vision of making products that mattered, that solved problems and that were the best they could be.
“I am very proud of what we have built at KLIM, and I am fired up that the next chapter of the KLIM story will be written through our exciting partnership with Polaris. KLIM will now have the resources to reach the next level as we continue to innovate and lead into the future.”
KLIM is known not only for superior quality, innovation and performance, but also for its understanding of riders’ needs and devotion to addressing them in its products. This passion underscores KLIM’s culture and vision, which in many ways mirror Polaris’ own guiding principles. KLIM was advised by The Meriwether Group.