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Thief River Falls’ Arctic Cat sold to group that includes former executive
@Source: startribune.com
Textron has sold snowmobile and ATV maker Arctic Cat.
Brad Darling, a former Arctic Cat vice president and currently president and CEO at Canadian all-terrain vehicle (ATV) maker Argo, and an investment group bought the Thief River Falls company, according to Snow Goer and Motorcycle and Power Sports News.
Terms of the deal were not disclosed.
Textron had announced in December that it was suspending manufacturing of snowmobiles and then in January announced layoffs of most of its manufacturing operations as it explored strategic alternatives.
Textron runs mostly aircraft and defense businesses. It announced the move during its first quarter earnings release Wednesday.
Arctic Cat was part of Textron’s specialized vehicles segment that includes other brands such as Tracker boats, E-Z-Go golf carts, Jacobsen lawn mowers and Cushman utility vehicles.
Arctic Cat still provided sales and sevice for customers and dealerships.
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