Polaris Industries Inc. has purchased the Pro Armor brand of all-terrain vehicle accessories.
Acquiring the business expands Polaris' profitable parts, garments and accessories business and gives it a name well known in ATV racing circles, officials said this week. Pro Armor had $15 million in sales last year.
Polaris completed the deal with California-based of LSI Products Inc. and Armor Holdings LLC. Terms were not disclosed.
Medina-based Polaris is best known for making ATVs, snowmobiles, and motorcycles. But the company has grown its parts and accessories division over the last few years through key acquisitions that added well-known brands to its business.
In April, Polaris bought the Wisconsin-based ATV accessories firm Kolpin Outdoors Inc. In December 2012, Polaris acquired Idaho-based Teton Outfitters, which makes KLIM branded snowmobile and motorcycle riding gear.
"The acquisition of Pro Armor adds another industry-leading brand to our growing stable of … aftermarket brands," Steve Eastman, vice president of parts, garments and accessories for Polaris, said in a statement. Such products are "a key contributor to Polaris' growth and profitability."
Recreational vehicle dealers in Minnesota say ATV and snowmobile parts and garments sell particularly well during the holidays. Families that don't buy vehicles for Christmas will often surprise loved ones with riding accessories.
Within Polaris' parts, garments and accessories division, revenue rose 33 percent to $611 million last year. The upswing in business helped overall sales rise 18 percent to $3.8 billion last year.
Dee DePass • 612-673-7725
