Minneapolis, MN (11/17/2011)
- Polaris Industries Inc. (NYSE: PII)
today announced the acquisition of Goupil Industrie
SA, a privately owned,
Bourran, France-based manufacturer of on-road,
commercial electric
vehicles, built on a modular design that offers
many functional options and
appeals to a wide variety of customers. The
move will add Goupil vehicles
to Polaris' growing small electric vehicle product
portfolio, while
becoming part of a global brand will expand
Goupil's reach, both within and
outside its existing European sales base. Goupil,
which reported
approximately $25 million in sales during calendar
year 2010, will continue
operating in Bourran with its current staff.
"As Polaris continues to deliver outstanding
performance and gain market
share in our core business, we are excited
to acquire Goupil and add to our
growing small electric vehicle lineup. We
are eager to pursue the natural
synergies between their commercial light duty
work products and the more
people-mover oriented offerings from our GEM
business," said Scott Wine,
Polaris chief executive officer. "We
see tremendous, long term growth in
the global small electric vehicle market,
and Goupil, with its established
product line, history of profitable growth,
and segment-leading European
presence, will be an integral part of our
strategy to realize that
potential."
This acquisition further strengthens Polaris'
position in the small
electric vehicle market, building on the previous
purchase of Global
Electric Motorcars (GEM), an American manufacturer
of electric vehicles.
Goupil and GEM produce complementary vehicles,
and their combined portfolio
provides Polaris with a lineup of small electric
vehicles suited to a wide
range of utilizations, spanning from people-movers
to light-duty haulers.
By coupling Goupil and GEM with the recent
minority investment in Brammo,
Polaris now possesses a solid foundation for
future innovation in electric
vehicle technology.
"Joining Polaris presents us with the
resources we require to grow into a
stronger, more profitable business,"
said Pascal Duclos, co-founder of
Goupil. "Polaris and Goupil share similar
values, as we both build upon a
core of innovation and quality products. We
are thrilled to become part of
Polaris and look forward to expanding Goupil's
presence across all of
Europe and into North America."
Photos of select Goupil products and a slide
summarizing Goupil's business
and its fit with Polaris are available here:
www.businesswire.com/news/home/20111116006704/en
About Polaris
With annual 2010 sales of $1.99 billion, Polaris
designs, engineers, manufactures and markets
innovative, high quality off-road vehicles,
including all-terrain vehicles (ATVs) and
the Polaris RANGER(r) for recreational and
utility use, snowmobiles, motorcycles and
on-road electric powered vehicles.
Polaris is a recognized
leader in the powersports industry, among
the
global sales leaders for both snowmobiles
and off-road vehicles. The
Company has established a presence in the
heavyweight cruiser and touring
motorcycle market with Victory motorcycles
and the acquisition of the
Indian motorcycle brand. Additionally, Polaris
continues to invest in the
global on-road low speed vehicle industry
with internally developed
vehicles and the acquisition of Global Electric
Motorcars (GEM). Polaris
enhances the riding experience with a complete
line of Pure Polaris
apparel, accessories and parts, available
at Polaris dealerships.
Polaris Industries Inc. trades on the New
York Stock Exchange under the
symbol "PII", and the Company is
included in the S&P Mid-Cap 400 stock
price index.
Information about the complete line of Polaris
products, apparel and
vehicles accessories are available from authorized
Polaris dealers or
anytime at www.polarisindustries.com.
About Goupil Industrie
SA
Goupil Industrie SA, founded in 1996 by Pascal
Duclos and Thierry Zerbato, designs develops
and sells electric vehicles for use in commercial
applications. Goupil, located in Bourran,
France sells its vehicles in 18 countries
throughout Europe and beyond. Goupil offers
a diverse electric vehicle lineup that includes
the G3 and the newly introduced G5 and G5
hybrid electric models. Goupil vehicles are
compact, maneuverable, on-road approved and
available in multiple configurations to meet
the unique needs of its municipal, industrial,
delivery, service provider and other commercial
customers. More information about the complete
line of Goupil products and vehicle accessories
is available at www.goupil-industrie.com.