The sale to Rhode Island-based Textron, a conglomerate whose products include helicopters and golf carts, follows extended turnaround efforts by the Minnesota company that failed to yield consistent profits or greatly excite consumers with new models.
Arctic Cat was founded in northern Minnesota in 1960 and employs about 1,600 people, mostly in a Thief River Falls, Minn., factory, an engine manufacturing plant in St.
“We are proud of the progress our team has made to lay the foundation for Textron to continue taking this company forward,” Metz said in a statement.
“Textron plans to build on Arctic Cat’s strong brand and history of innovation.
Cloud and at the company’s new headquarters in the North Loop.
Arctic Cat just moved into the new space in August, after the building’s owner invested millions in renovations for Arctic Cat.
Textron Specialized Vehicles produces golf carts, utility and personal transportation vehicles, professional turf-care equipment and ground support equipment.
Combined, Arctic Cat and Textron will offer many types of recreational, utility and specialized vehicles.
By adding Arctic Cat to its lineup, Textron said it intends to more aggressively invest in product development, dealer networks, marketing and customer service.
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