Statement from Polaris on the Agreement to Purchase Walker Evans Enterprises
Polaris has signed an agreement with Walker Evans Enterprises to purchase the Walker Evans Racing brand and operating assets. Since 2000, Walker Evans Enterprises has been a Polaris supplier and provides shocks for the Company's off-road vehicles and snowmobiles.
“Co-owners Walker Evans and Randy Anderson have helped shape the off-road industry and built a company that has become recognized for providing performance products,” said President of Off Road Steve Menneto on the acquisition. “When Walker, his wife Phyllis and Randy informed Polaris they would be looking to sell, the decision to purchase the business was an easy choice as it complements our strategy and strengthens supply chain continuity of one of our key off-road and snow shock components.”
Polaris will integrate the Walker Evans business into its Off Road business, processes and systems. Randy Anderson will join Polaris to help support a seamless transition of the business and continue to drive innovation through the Walker Evans portfolio of products.
The sale is contingent on customary closing conditions and is expected to close before the end of Q3. Terms of the sale are not disclosed.
About Polaris Inc.:
As the global leader in powersports, Polaris Inc. (NYSE: PII) pioneers product breakthroughs and enriching experiences and services that have invited people to discover the joy of being outdoors since our founding in 1954. Polaris' high-quality product line-up includes the Polaris RANGER®, RZR® and Polaris GENERAL™ side-by-side off-road vehicles; Sportsman® all-terrain off-road vehicles; military and commercial off-road vehicles; snowmobiles; Indian Motorcycle® mid-size and heavyweight motorcycles; Slingshot® moto-roadsters; Aixam quadricycles; Goupil electric vehicles; and pontoon and deck boats, including industry-leading Bennington pontoons. Polaris enhances the riding experience with a robust portfolio of parts, garments, and accessories. Proudly headquartered in Minnesota, Polaris serves more than 100 countries across the globe. www.polaris.com