{"id":1362,"date":"2012-12-06T19:56:00","date_gmt":"2012-12-06T19:56:00","guid":{"rendered":"https:\/\/utvguide.net\/?p=1362"},"modified":"2012-12-06T19:56:00","modified_gmt":"2012-12-06T19:56:00","slug":"polaris-acquires-klim-technical-riding-gear","status":"publish","type":"post","link":"https:\/\/utvguide.net\/polaris-acquires-klim-technical-riding-gear\/","title":{"rendered":"Polaris Acquires KLIM Technical Riding Gear"},"content":{"rendered":"
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Addition of KLIM enhances Polaris offerings in the parts, garments and accessories market<\/b><\/i><\/p>\n

MINNEAPOLIS–Polaris Industries Inc. (NYSE: PII) today announced the acquisition of Teton Outfitters, LLC, a privately owned, Rigby, Idaho-based company which designs, develops and distributes KLIM Technical Riding Gear. Calendar year 2012 sales for KLIM are anticipated to approach $30 million. KLIM is an industry leader in technical riding gear. This acquisition adds KLIM to Polaris\u2019 growing parts, garments and accessories (PG&A) business. The terms of the transaction were not disclosed. <\/p>\n

\u201cI built KLIM with a passion for the category and a commitment to the world\u2019s adventure snowmobile and motorcycle riders\u201d<\/p><\/blockquote>\n

\u201cThe KLIM acquisition provides yet another growth opportunity for our PG&A business, a key contributor to Polaris\u2019 top-line growth and profitability,\u201d said Steve Eastman, Polaris\u2019 vice president of PG&A. \u201cKLIM 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.\u201d 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 Center of Excellence, bringing the unmatched capabilities, expertise and knowledge housed in Rigby to all Polaris branded apparel. \u201cI built KLIM with a passion for the category and a commitment to the world\u2019s adventure snowmobile and motorcycle riders,\u201d said Justin Summers, KLIM founder, president and CEO. “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.\u201d KLIM is known not only for superior quality, innovation and performance, but also for its understanding of riders\u2019 needs and devotion to addressing them in its products. This passion underscores KLIM\u2019s culture and vision, which in many ways mirror Polaris\u2019 own guiding principles. KLIM was advised by The Meriwether Group.