Victory For Indian
VICTORY FOR INDIAN
ROUNDUP
Polaris Industries Buys Indian Motorcycle
ON A ROLL AFTER RECORDING A RECORD
profit of $147.1 million in 2010, Polaris Industries (parent of Victory Motorcycles) continues full-speed ahead with the acquisition of Indian Motorcycle, the U.S.’s oldest purveyor of motorcycles (off and on) since 1901.
The latest of more attempts than we can count to resuscitate Indian graced our cover in November, 2009, when British turnaround specialist Stellican Ltd. bought the brand and began producing Indians at an assembly plant in North Carolina. This past April, Polaris announced the acquisition from Stellican (and private-equity firm Novator) for an amount we’re unable to pry out of Polaris.
Stellican’s Stephen Julius said, “Polaris will utilize its well-known strengths in engineering, manufacturing and distribution to complete the mission we undertook upon re-launching the brand in 2006: to harness the enormous potential of the Indian brand. Polaris is the most logical owner of Indian Motorcycle. Indian’s heritage brand will allow Polaris to aggressively compete
across an expanded spectrum of the motorcycle market.”
Polaris CEO Scott Wine waxed equally upbeat: “We are excited to be part of the revitalization of a quintessential^ American brand. Indian built America’s first motorcycle. With our technology and vision, we are confident we will deliver the classic Indian motorcycle, enhanced by the quality and performance for which Polaris and Victory are known.”
Polaris reported sales of $ 1.9 billion in 2010 on sales of Victory motorcycles, off-road vehicles, snowmobiles and AT Vs, including the Ranger side-by-side. A week after the Indian deal,
Polaris announced an agreement to acquire Global Electric Motorcars LLC (GEM), a wholly owned subsidiary of Chrysler Group LLC and manufacturer of “premium” electric-powered vehicles. —John Burns
