Polaris Industries, Inc.—the Medina-based maker of all-terrain vehicles, snowmobiles, and motorcycles—said this week that it has acquired a Wisconsin company that makes powersports accessories.
Polaris said that its acquisition of Kolpin Outdoors, Inc., will bolster its parts, garments, and accessories (PG&A) business. Terms of the acquisition were not disclosed, although data from Polaris indicates that Kolpin had about $20 million in 2013 revenue and employs about 55 workers.
Polaris' PG&A business is growing: It accounted for more than $611 million in sales last year—or roughly 16 percent of the company's total revenue, up from 14 percent the prior year.
Kolpin was founded in 1943, and it manufactures accessories for ATVs and other off-road vehicles. For example, it creates storage racks, gun cases and holders, and windshields, among other products, which will continue to be sold under the Kolpin and Cycle Country brands. Kolpin has more than 650 products in its portfolio, which are sold through brick-and-mortar retailers such as Gander Mountain, as well as online sellers like Amazon.com. Kolpin also sells customized private label products directly to manufacturers.
Polaris said it will further develop the Kolpin 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.”
Steve Eastman, Polaris’ vice president of PG&A, said in a statement that the Kolpin acquisition “creates a multitude of growth opportunities for our PG&A business,” and it will “expand our aftermarket accessories portfolio and enhance our traditional and online distribution channels.”
The Kolpin deal is the latest in a long list of Polaris acquisitions, as the company has continued to diversify its offerings. For example, the company said in November that it was buying St. Paul-based military navigation software company Primordial, Inc. And earlier last year, it acquired a French automobile company that makes low-speed personal vehicles, as well as commercial vehicles.
In December, Polaris added a line of power generators for outdoor enthusiasts, and most recently, it announced a partnership with Boy Scouts of America.
The company has also been adding jobs and expanding internationally. Polaris reported record fourth-quarter profits and revenue.