Textron to buy Arctic Cat for nearly $250m

Big news for the snowmobile world came earlier this week.

Textron Inc. (TXT), an industrial, aircraft and automotive manufacturing company, has announced that it will be acquiring Arctic Cat Inc. (ACAT) as a new addition to its Specialized Vehicles business for approximately $247 million. Plans are that the Arctic Cat brand will be fully preserved when the acquisition occurs. According to the company's original announcement, the joining will position the brand to grow in its positioning within industry leadership and "allow more aggressive investment" in product development.

Based out of Minnesota, Arctic Cat reported an annual revenue of over $640 million in the 2016 Fiscal Year. ACAT President and CEO Christopher Metz noted the distinct value of the acquisition in an article published by Dealer News:

"This transaction presents increased opportunities for the business to leverage our combined scale, accelerate growth and enhance product innovation in ways that will benefit our customers, dealers and employees."

Based out of Minnesota, Arctic Cat reported an annual revenue of over $640 million in the 2016 Fiscal Year.

Source: Grand Forks Herald