Snowmobile giant Polaris Industries announced Thursday it has bought Teton Outfitters, the privately owned, Rigby-based company that designs, develops and distributes KLIM Technical Riding Gear.
Calendar year 2012 sales for KLIM are anticipated at nearly $30 million. Terms of the transaction were not disclosed.
"The KLIM acquisition provides yet another growth opportunity for our (parts, garments and accessories) business, a key contributor to Polaris' top-line growth and profitability," said Steve Eastman, Polaris' vice president of PG&A. "KLIM is an established leader in the powersports apparel market with a strong track record of providing innovative, premium technical riding gear to a broad range of consumers."
Polaris will maintain the KLIM brand positioning and name while continuing to drive its existing apparel brands. KLIM will continue operations in Rigby with its current staff. Polaris has plans to establish the Rigby facility as its new apparel Center of Excellence, bringing the unmatched capabilities, expertise and knowledge housed in Rigby to all Polaris branded apparel.
"I built KLIM with a passion for the category and a commitment to the world's adventure snowmobile and motorcycle riders," said Justin Summers, KLIM founder, president and CEO. "KLIM will now have the resources to reach the next level as we continue to innovate and lead into the future."
For a profile of KLIM's facility and business culture, here is its YouTube video:
Photos of select KLIM products are available at this link: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50499525&lang=en