(By Balachander) Polaris Industries Inc. (NYSE: PII) said it has acquired privately held KLIM Technical Riding Gear in a move to broaden its growing parts, garments and accessories (PG&A) business.
Terms of the deal were not disclosed.
Polaris, with annual 2011 sales of $2.7 billion, is engaged in the design of off-road vehicles, snowmobiles, and on-road electric/hybrid powered vehicles.
According to Polaris, sales for KLIM are anticipated to approach $30 million for calendar year 2012.
"The KLIM acquisition provides yet another growth opportunity for our PG&A business, a key contributor to Polaris' top-line growth and profitability," said Steve Eastman, Polaris' vice president of PG&A.
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Polaris sells its products through independent dealers and distributors primarily under the RANGER, RANGER RZR, RANGER Crew, Victory Vision, Victory Cross Roads, Indian, Polaris RUSH, and Cross Country names.
PII shares rose 1.93 percent to trade at $82.30 on Thursday.