Textron Inc. Announces Acquisition of Arctic Cat Inc., a Leading Company in the Recreational Vehicle Industry
March 06 2017 - 5:25PM
Business Wire
Textron Inc. (NYSE: TXT) announced today that it has completed
the acquisition of Arctic Cat Inc. by means of a short-form merger
under Minnesota law. As a result, Arctic Cat has become an indirect
wholly owned subsidiary of Textron.
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Arctic Cat Alterra TRV 700 XT (Photo:
Business Wire)
Going forward, Arctic Cat will operate as a subsidiary of
Textron Specialized Vehicles Inc. This business, based in Augusta,
Ga., designs and manufactures vehicles and equipment for a range of
uses and industries, including E-Z-GO golf cars and personal
transportation vehicles, Cushman commercial utility vehicles,
Textron Off Road side-by-sides, Dixie Chopper zero-turn mowers,
Jacobsen professional turf-care equipment, and TUG, Douglas,
Premier and Safeaero ground support equipment. The powerful Arctic
Cat brand brings an exciting lineup of snowmobiles, side-by-sides
and ATVs into the Textron Specialized Vehicles product family.
“Arctic Cat is an ideal fit with our growing range of off-road
recreational vehicles,” said Textron president and CEO Scott
Donnelly. “The addition of Arctic Cat to our Textron Specialized
Vehicles business instantly gives us a deeper product line for
customers, greater potential for innovation, and introduces new
sales opportunities for our combined worldwide dealer network.”
Arctic Cat’s operations will remain in Minnesota. The business
will gain valuable new capabilities through its integration with
Textron Specialized Vehicles and the global resources of Textron
Inc.—a $13.8 billion multi-industry business with operations in
more than 25 countries.
About Arctic CatThe Arctic Cat brand is among the most
widely recognized and respected in the recreational vehicle
industry. The company designs, engineers, manufactures and markets
all-terrain vehicles (ATVs), side-by-sides and snowmobiles, in
addition to related parts, garments and accessories under the
Arctic Cat® and Motorfist® brand names. More information
about Arctic Cat and its products is available at
www.arcticcat.com.
About Textron Specialized Vehicles Inc.Textron
Specialized Vehicles Inc. is a leading global manufacturer of golf
cars, utility and personal transportation vehicles, snowmobiles,
side-by-sides, all-terrain vehicles, professional turf-care
equipment, and ground support equipment. Textron Specialized
Vehicles markets products under the E-Z-GO®, Cushman®, Arctic
Cat®,Textron Off Road™, Jacobsen®, Dixie Chopper®, Ransomes®, TUG™,
Douglas™, Premier™ and Safeaero™ brands. Its vehicles are found in
environments ranging from golf courses to factories, airports to
planned communities, and theme parks to hunting preserves.
About Textron Inc.Textron Inc. is a multi-industry
company that leverages its global network of aircraft, defense,
industrial and finance businesses to provide customers with
innovative solutions and services. Textron is known around the
world for its powerful brands such as Bell Helicopter, Cessna,
Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee,
Textron Off Road, Textron Systems, and TRU Simulation + Training.
For more information visit www.textron.com.
Certain statements in this press release may describe
strategies, goals, outlook or other non-historical matters; these
forward-looking statements speak only as of the date on which they
are made, and we undertake no obligation to update them. These
statements are subject to known and unknown risks, uncertainties,
and other factors that may cause our actual results to differ
materially from those expressed or implied by such forward-looking
statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20170306006382/en/
Textron Inc.Investor Contacts:Eric Salander,
401-457-2288orD’Ante Natili, 401-457-2288orMedia Contact:David
Sylvestre, 401-457-2362
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