US multi-industry manufacturing giant Textron, a $13.8bn S&P 500 company operating in 25 countries, has completed its $18.50-per-share acquisition of Minnesota-based powersports brand Arctic Cat.
Having delisted from New York’s NASDAQ electronic stock exchange, Arctic Cat has become a subsidiary of Textron’s specialised vehicles division, within the Textron Off-Road segment. This already includes another quadbike and side-by-side ATV brand, Bad Boy.
Textron Specialized Vehicles also makes E-Z-GO golf carts and personal transportation vehicles, Cushman commercial utility vehicles, Dixie Chopper ride-on mowers, Jacobsen professional turf-care equipment, and TUG, Douglas, Premier and Safeaero aviation ground support equipment. Besides its own variety of ATVs, Arctic Cat will add snowmobiles to this portfolio.
Textron chief executive Scott Donnelly said: “Arctic Cat is an ideal fit with our growing range of off-road recreational vehicles. The addition instantly gives us a deeper product line for customers, greater potential for innovation and introduces new sales opportunities for our combined worldwide dealer network.”