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.