After more than 100 years in Minnesota, Larson Boat Group will be closing its plant there in 2017.
The company will be shutting down production at it's Little Falls, Minn., facility and consolidating production at its Pulaksi, Wis., plant early next year, the Minneapolis Star Tribune reported. As part of the move, the company will also cease production of its Triumph boats, It intends to continue producing its other boat lines, including Larson and Striper.
Larson Boats was founded by Paul Larson in Little Falls in 1913.
“After months of analysis, financial review and personal agony we must close our Little Falls operation and facility after more than 100-years of boat building accolades and achievements,” CEO Rob Parmentier said in a statement.
Parmentier said that the move "is due to external, global economic influences including adverse economic dynamics and shifting changes within the marine market that require us to consolidate our company’s operations and footprint with our sister organization in Pulaski, WI to continue to be competitive in our ever changing industry.”
The plant currently employs 114 people and Parmentier said that the company offering jobs to all affected Little Falls workers at the Pulaski plant.
“Although we are shutting down Larson Boat Group in Little Falls, we are actively discussing win – win solutions for our employees,” Parmentier said. “We are currently discussing the sale of the property with a large multi-national manufacturer that very much could offer our employees jobs.”
The new potential owner of the plant is not a boat builder, according to local officials.
In 2009, Larson was part of the Genmar bankruptcy. After being briefly owned by Platinum Equity, Larson was acquired by former Genmar Chairman & CEO Irwin L. Jacobs' J&D Acquisitions in 2010. Rob Parmentier joined the company as CEO in 2013.
That's Funny Global economic
Due to many boats being sold during the inflated housing market and WILD loan market in 1999-2005 then came the crash all the lies by the Banks and lending companies. Then came bankruptcy losing homes that were mortgage to the hilt. Boats repo. Huge loses. Lots of used boats owned by bank.
Then the banks sitting on many empty homes after what they did to the housing market and people's lives. No loss for banks they have all the money and homes in their pockets.
People lose life goes on.
I currently own my second Triumph and live in middle Tennessee and regrettably wanted to read this news. The gener boating public never understood what a great product your company produced. I feel the largest obstacle that stood between it being most favorable boat in the world was simply marketing and educating the consumers of what they are. I had a friend in my first Triumph that worked quality control at boat manufacturing plant that was the largest critic. After two summers in my Triumph he bought it and kept until his health forced selling. He always said the public doesn't understand what a great product Triumph has.
Totally agreed. I have had my 190 Bay for 10 years. What an awesome product all-around.
Larsen should reconsider what it will do with Triumph's IP and molds. I am hoping that one day, they will see the light and realize that this is the REAL differentiator in that can spur massive sales if they PR this thing teh right way.
The group is right, great product, no advertising or how to get the word out
This is so disappointing, I have a Triumph 17 CC that I purchased about 12 years ago and was now looking to upgrade to a new Triumph. This is the best bat ever made in its class, totally indestructible and cleans up easy. Our family loves this boat. I been shopping for a replacement now and looked at dozens of companies bay boats but there is nothing out there that comes close. I so wish they would bring this line back!