Po­laris Ac­quires Ham­mer­head Off-Road Ve­hi­cles Busi­ness

Ex­per­tise in Light Util­ity Ve­hi­cles and Go-Karts Com­ple­ments Po­laris’ Ex­ist­ing Prod­uct Port­fo­lio

Sno-Dak News - - New Product -

MIN­NEAPO­LIS (Fe­bru­ary 18, 2015) —Po­laris In­dus­tries Inc. (NYSE: PII) to­day an­nounced it has signed an agree­ment to ac­quire HH In­vest­ment Lim­ited (”Ham­mer­head”). Ham­mer­head man­u­fac­tures gaso­line pow­ered go-karts, light util­ity ve­hi­cles, and elec­tric util­ity ve­hi­cles in Shang­hai, China. The Com­pany mar­kets its prod­ucts glob­ally un­der the Ham­mer­head Of­froad® brand, along with main­tain­ing key pri­vate la­bel re­la­tion­ships with other OEMs. The trans­ac­tion is ex­pected to close within the next 90 days. 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 low­cost 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 and op­er­ate un­der its cur­rent lead­er­ship struc­ture as a stand-alone en­tity.

“I am thrilled at the op­por­tu­nity to make Ham­mer­head a part of Po­laris and its grow­ing port­fo­lio of global brands,” said Jerry Qiu, Chair­man of Ham­mer­head. “I am very proud of what we have built at Ham­mer­head. We share the same en­thu­si­asm and pas­sion for off-road ve­hi­cles as Po­laris and look for­ward to shar­ing our mu­tual ex­per­tise as we take our prod­ucts, en­gi­neer­ing and manufacturing skills to the next level.”

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