Polaris Industries further increased its presence in the marine sector with the purchase of Larson Boat Group from Marquis-Larson Boat Group, a Polaris spokeswoman confirmed to Powersports Finance.
The price of the deal was not disclosed.
Northpoint Commerical Finance provides floorplan financing for Larson boats, though dealers told PSF they were unsure how the acquisition would affect that financing relationship. FreedomRoad provides retail financing for Polaris under the name Performance Finance. Northpoint and Polaris failed to comment about financing by press time.
Larson model boats include the Larson, Larson FX, Striper, Triumph, and Escape. These brands will fall under the control of Polaris, while the luxury Carver Yacht and Marquis Yacht brands remain with Pulaski, Wisc.-based Marquis.
However, dealers told PSF that they heard from Larson that Polaris plans to discontinue the Escape line of pontoon boats. Polaris entered the pontoon space in 2018 when it acquired Boat Holdings in a deal valued at $805 million.
One dealer with Laron’s Escape models in inventory said he hasn’t yet been told how Polaris or Larson planned to support him in selling the units.
Some of the Larson Boat Group assets will be moved to the Polaris production facility in Syracuse, Ind., where the company currently produces Rinker boats.
Dealerships were told that a Polaris representative will answer acquisition-related questions at the Larson booth at the Minneapolis Boat Show, Jan. 24-27.