Polaris Acquires Boat Holdings Brands

Snowmobile, motorcycle and ATV manufacturer Polaris Industries has announced plans to acquire Boat Holdings, the parent company of the Bennington, Godfrey, Hurricane and Rinker boat brands, from the Vogel family, management and Balmoral Funds. The company expects to pay about $805 million in cash and realize about $100 million in net tax benefits, giving the transaction a net value of approximately $705 million.

Boat Holdings earned $560 million in sales last year across its more than 200 models of pontoon boats, bowrlders and cruisers. The sale is expected to close in the third quarter of 2018.

“Boat Holdings is renowned for innovation and quality and we are excited to have them become part of our portfolio of industry-leading powersports vehicles,” said Polaris chairman and CEO, Scott Wine. “In addition to market share leadership, Boat Holdings expands Polaris’ footprint in the recreational outdoors market, commanding more of consumers’ discretionary spending. Our product lineup will offer options to be enjoyed on the roads, trails, sand, dirt, snow and water.”

Polaris was once a main brand in the personal watercraft segment, but exited the market in 2004. The company earned worldwide sales of $5.4 billion in 2017 with its full line of side-by-side off-road vehicles, ATVs, snowmobiles and Indian Motorcycles.