Polaris Industries has followed up its acquisition of electric-bike manufacturer Brammo with the purchase of HH Investment Limited, which owns the Hammerhead brand. Hammerhead manufactures petrol-powered go-karts, light utility vehicles, and electric utility vehicles in Shanghai, China. The company markets its products globally under Hammerhead Offroad, and works with other OEMs. The transaction is expected to close within the next month. The terms of the pending transaction were not disclosed.
“Hammerhead provides Polaris with a unique opportunity to expand both our international manufacturing footprint and our armada of off-road products,” said Scott Wine, Polaris chairman and CEO. “We are impressed by the entrepreneurial spirit and passion for innovation of the Hammerhead team, and look forward to pursuing new customers in new markets with their high-quality and low-cost off-road vehicles. We are excited to establish Polaris’ operational footprint in China and believe the opportunities for further international growth are significant.”
Hammerhead’s main manufacturing operation is located in Shanghai, China, near Polaris’ Chinese subsidiary. Hammerhead also has an operation located north of Dallas, Texas responsible for light assembly and sales distribution of its products in North America. Hammerhead will continue to market its products under the Hammerhead brand as a stand-alone entity.