Polaris purchases Larson Boat Group
In a recent letter to dealer partners, Rob Parmentier, president and CEO of Marquis-Larson Boat Group announced that the Larson Boat Group has been sold to Polaris Industries.
“The sale of the company, means production will move and take place at another facility,” Parmentier said in the letter. “The moving of materials and assets will begin, immediately.”
The letter also said that Parmentier expects Polaris to begin sharing with dealer partners their business process and procedures, how Larson strategically fits into their marine growth plans, along with the appropriate introductions and sharing of information to transition partner’s business into theirs and vice versa.
An email sent to dealers on behalf of Jake Vogel, president of Polaris Boats confirmed the sale of the Larson Boat Group.
“Marquis will no longer be manufacturing the Larson brand of boats. Any future boats manufactured under these brands (Larson, FX, Striper, Escape) will be produced by Polaris Boats,” Vogel said in the email.
The email also stated that the process has already begun to move some of the Larson Boat Group assets to the Polaris production facility in Syracuse, Ind., where the company currently produces Rinker boats. “This will continue over the next few months as we look to incorporate these assets into our operations and begin production on certain prioritized models,” Vogel said.
Vogel continued in the email to say that Polaris currently intends to discontinue the Escape line of pontoons and will continue with the other Larson Boat Group brands, prioritizing models based on current demand.
Dealers were informed that Marquis-Larson will currently manage all existing loans with Northpoint and that Polaris is evaluating next steps for each brand to determine a plan for incorporating the respective assets into its operations including financing at this time.
Polaris entered the boating industry in May 2018, when it acquired Boat Holdings, LLC, a boat manufacturer previously owned by the Vogel family, management and Balmoral Funds, in an all-cash transaction valued at a net present value of approximately $805 million.
This story is developing, Boating Industry will continue to update as more details become available.
It is unfortunate to see a Minnesota company buy another Minnesota company which has over 100 years in the same community only to move it out of state. It may make sense financially to consolidate in one facility however it is quite unfortunate for the dedicated and skilled people of small-town Little Falls, Mn who have worked for Larson Boats all these years, most will likely not move to Indiana.
That 100 year history ended in 2016 when Larson moved production to Wisconsin. Those folks in Little Falls and even the factory there have moved on since then. Just be happy that Larson is again owned by a MN based business.
The company had already moved from MN to WI, the Marquis Carver facility. They will be moving from WI to IN.
Larson Boat moved to Pulaski, Wisconsin a few years ago
The Little Falls facility was sold to Wabash International. Wabash actually hired more people to work at the Little Falls plant than were employed by Larson while it was there. http://www.startribune.com/wabash-national-operates-in-former-boat-plant-in-little-falls/454165733/ This will be a good thing for the brand. Polaris has a lot of money and are looking to invest to make the brand the best it can be!
Wow, this prediction didn’t age well. You wonder how Polaris could spend so much money then fold the brand a year later… and why was no one held accountable?
I own a 2003 Larson lxi 230 I am trying to find replacement side decals they are gold and black in color approx. size 33 inch by 4 inches in size. is this something you could help me find.
Check Great Lakes Skipper they have had Larson parts for a few years now.