PROVIDENCE, R.I. — Textron Inc. (NYSE: TXT) announces that it has completed the acquisition of Arctic Cat Inc. by means of a short-form merger under Minnesota law. As a result, Arctic Cat has become an indirect wholly owned subsidiary of Textron.
Going forward, Arctic Cat will operate as a subsidiary of Textron Specialized Vehicles Inc. This business, based in Augusta, Ga., designs and manufactures vehicles and equipment for a range of uses and industries, including E-Z-GO golf cars and personal transportation vehicles, Cushman commercial utility vehicles, Textron Off Road side-by-sides, Dixie Chopper zero-turn mowers, Jacobsen professional turf-care equipment, and TUG, Douglas, Premier and Safeaero ground support equipment. The powerful Arctic Cat brand brings an exciting lineup of snowmobiles, side-by-sides and ATVs into the Textron Specialized Vehicles product family.
“Arctic Cat is an ideal fit with our growing range of off-road recreational vehicles,” said Textron president and CEO Scott Donnelly. “The addition of Arctic Cat to our Textron Specialized Vehicles business instantly gives us a deeper product line for customers, greater potential for innovation, and introduces new sales opportunities for our combined worldwide dealer network.”
Arctic Cat’s operations will remain in Minnesota. The business will gain valuable new capabilities through its integration with Textron Specialized Vehicles and the global resources of Textron Inc.— a $13.8 billion multi-industry business with operations in more than 25 countries.