Polaris Agrees To Buy Largest Pontoon Maker In America For $805M
Polaris, the Medina, Minnesota headquartered company, is getting into the boating game as they have agreed to acquire the largest pontoon boat company in the United States.
According to a press release sent out from Polaris, they have acquired Boat Holdings, LLC for the price of $805 million. Polaris is known for their snowmobiles and ATV's, which are built mostly in Roseau, Minnesota. Now they are getting into the water.
Boat Holdings, LLC is the biggest pontoon boat manufacturer in the United States. The company makes pontoons, along with deck and cruiser boats. The four major brands that you've most likely will recognize are: Bennington, Godfrey, Hurricane and Rinker. The company made approximately $560 million in sales for 2017.
Scott W. Wine, the Chief Executive Officer for Polaris was quoted in the press conference saying that, “With their passion to create premium products and experiences, Boat Holdings is a strong cultural fit with Polaris as well, sharing our commitment to quality, innovation, safety, flexibility and efficiency. Further, Boat Holdings’ long-term relationships with its national dealer network speaks to the brand’s strength with both dealers and consumers.”