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December 6, 2012
Polaris Acquires Klim Technical Riding Gear
Addition of Klim enhances Polaris offerings in the parts, garments and accessories market
This acquisition adds KLIM to Polaris’ growing parts, garments and accessories (PG&A) business. The terms of the transaction were not disclosed.
“The Klim acquisition provides yet another growth opportunity for our PG&A business, a key contributor to Polaris’ top-line growth and profitability,” Steve Eastman, Polaris’ vice president of PG&A, said. “Klim is an established leader in the powersports apparel market with a strong track record of providing innovative, premium technical riding gear to a broad range of consumers. Adding an outstanding brand like Klim, whose strengths complement our existing business, gives us a more complete PG&A product lineup, one which will flourish in the global market. We are excited to welcome Klim employees into the Polaris family. With our common culture and vision, we believe this will be a mutually beneficial partnership for everyone involved.”
Polaris will maintain the Klim brand positioning and name
while continuing to drive its existing apparel brands. Klim will continue
operations in Rigby with its current staff. Polaris has plans to establish the
Rigby facility as its new apparel
“I built Klim with a passion for the category and a commitment to the world’s adventure snowmobile and motorcycle riders,” Justin Summers, Klim founder, president and CEO, said. "We had a vision of making products that mattered, that solved problems and that were the best they could be. I am very proud of what we have built at Klim, and I am fired up that the next chapter of the Klim story will be written through our exciting partnership with Polaris. Klim will now have the resources to reach the next level as we continue to innovate and lead into the future.”
Klim is known not only for superior quality, innovation and performance, but also for its understanding of riders’ needs and devotion to addressing them in its products. This passion underscores Klim’s culture and vision, which in many ways mirror Polaris’ own guiding principles. Klim was advised by The Meriwether Group.
KLIM’s Rigby facility and its business culture, are highlighted in this video: http://www.youtube.com/watch?v=sDwmb6eO-g4.
© 2013 SnoWest® Magazine