MINNEAPOLIS ” Defense contractor Textron (TXT) is buying snowmobile maker Arctic Cat in a deal valued at about $247 million. Textron said Wednesday that it will pay $18.50 per Arctic Cat share, a 41 percent premium to its Tuesday closing price. … The Minneapolis company employs around 1,600 people.
Why did Arctic Cat sell to Textron?
Textron Inc reported a 4.4 percent fall in quarterly profit, and said it would buy all-terrain vehicle maker Arctic Cat Inc for $247 million in cash as it looks to strengthen its specialized vehicles business amid slowing business jet sales.
Textron acquires Polaris in 1968 At the height of the snowmobile craze in the 1960s, diversified manufacturer Textron (NYSE: TXT) acquired the company, which joined it with the E-Z Go golf cart company it had acquired. (Coincidentally, Textron acquired Arctic Cat in March of this year.)
What snowmobile companies does Textron own?
On March 6, 2017, Textron bought out Arctic Cat for US$247M. Arctic Cat is a manufacturer of snowmobiles, all-terrain vehicles and side-by-sides. Textron operates Arctic Cat as a subsidiary of Textron Specialized Vehicles.
On Wednesday, January 25, 2017, Arctic Cat announced it was been acquired by Textron Industries for $247 million in an all-cash deal. Textron Inc, is a Rhode Island-based conglomerate whose products include Bell helicopters, Cessna airplanes, Jacobsen Lawn Mowers and E-Z Go golf carts.
Did Textron own Polaris?
Textron, Inc. purchases Polaris; keeps manufacturing operations in Roseau, MN.
Are Yamaha and Arctic Cat merger?
(NASDAQ: ACAT) has announced that it has entered into an engine supply agreement with Yamaha Motor Corporation, expanding Arctic Cat’s purchase of Yamaha snowmobile engines starting in the 2014 model year. … This agreement has now been expanded to include select 4-stroke engines from Yamaha.
When did Textron buy Arctic Cat?
Arctic Cat became a part of Textron in 2017.
What brands does Textron make?
Textron Inc. (NYSE: TXT) is one of the world’s best known multi-industry companies, recognized for its powerful brands such as Bell, Cessna, Beechcraft, E-Z-GO, Arctic Cat and many more.
Who makes Textron UTV?
Who makes the tracker UTV? TRACKER OFF ROAD” is the combination of two industry leaders”Textron and Bass Pro Shops/White River Marine Group“partnering together.
Does Textron own Jacobsen?
In 2017, Jacobsen moved from Charlotte to Augusta, Georgia. In 2020, it was announced they would relocate from Augusta, Georgia to their sister factory of Ransomes-Jacobsen in Ipswich, England, UK. They are currently owned by Textron since acquisition in 1975.
Who makes Textron ATV engines?
At 800cc it could be punched out and punched up to be a serious 850 and add power to the 160 class. Textron uses its own engine maker, Textron Motors, the former Weber Motors, to power its line of Bad Boy gas models.
Is ezgo a Textron company?
Today, E’Z’GO vehicles are designed and manufactured by Textron Specialized Vehicles, a division of Textron Inc. that also manufactures commercial and industrial utility vehicles, recreational side-by-side UTVs, and ground support equipment for the aviation industry.
Where is Arctic Cat manufactured?
That’s why in 2019 we decided our off-road vehicles should carry the Arctic Cat name once again. Today, the bulk of our manufacturing happens at our facility in Thief River Falls, MN, with trails in our backyard and the mountains just a day’s drive away.
Where are Textron ATVs made?
Tracker Off Road is designed, engineered and assembled with skilled American labor by Textron in their U.S. plants, like Thief River Falls and St. Cloud, Minnesota; and Augusta, Georgia.
Is Arctic Cat a good brand?
Its vehicles come with many standard features for improved performance, such as power steering and independent rear suspension. Arctic Cat vehicles are also known for having all the power and quality of higher-priced rivals at a more affordable cost. One of the most popular Arctic Cat ATVs is the Alterra 300.
What ATV brands does Textron make?
The diverse Textron Off Road product line includes gas and electric off-road vehicles for a variety of uses in work and play, including the Prowler”, Stampede”, Havoc” and Wildcat” lines of side-by-sides and Alterra” ATVs. Textron Off Road is a brand of Textron Specialized Vehicles Inc., a Textron Inc.
Is Arctic Cat still in business?
However, Arctic Cat went bankrupt in 1982. … In early 2019, the company announced that the Arctic Cat brand would return to its side-by-sides and ATVs, beginning with the 2020 model year.
When did Arctic Cat stop using Suzuki engines?
Arctic Cat announced in June 2010 that it would stop buying snowmobile engines from Suzuki at the end of 2013 and move the manufacturing to its plant in St. Cloud.
Who makes the engines for Arctic Cat?
Arctic Cat will begin manufacturing some of its own snowmobile engines in St. Cloud, Minn., after the 2014 model year. Currently, Suzuki supplies all engines for Arctic Cat’s snowmobiles. Suzuki will continue to supply the company with engine parts to service existing engines after the 2014 model year.
Is Arctic Cat same as Yamaha?
Further to this, many enthusiasts believe Yamaha sleds and the Cat sleds are exactly the same. Not true. … Naturally, Cat’s 9000 Series turbo 4-strokes are Yamahas and Arctic Cat uses Yamaha 4-strokes in some of its touring and utility sleds, too.
Did Arctic Cat use Yamaha engines?
So why is everybody so bugged because Yamaha uses Cat technology on most of its sleds? Frankly, we haven’t heard too many Arctic Cat fans going berserk because Cat uses Yamaha 4-strokes in some of its sleds! … For decades, Arctic Cat used Kawasaki and Suzuki engines in its snowmobiles and everyone was as happy as a clam.
Is Polaris and Arctic Cat the same?
The current Polaris Industries was really born in the early 1980s when the parent company Textron ” yes, the same company now buying Arctic Cat ” wanted to get rid of it.
Does Suzuki still make ATVs?
2021 Suzuki ATVs Suzuki ATV’s remain popular, and some of the best-selling models include the Suzuki QuadSport, Suzuki QuadRacer, and the Suzuki KingQuad.
Does Bass Pro still sell Arctic Cat?
It and all other ATV’s and SXS’s produced by Textron or Arctic Cat will be sold under the Tracker name at Bass Pro Shops and Cabela’s stores throughout the country. All machines will still be available with the Arctic Cat logo at Arctic Cat dealers as well.
Does Raytheon own Textron?
In the first quarter of 2007 Raytheon sold its aircraft operations, which subsequently operated as Hawker Beechcraft, and since 2014 have been units of Textron Aviation.