Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Longtime Minnesota snowmobile maker Arctic Cat sold for $247 million

 

January 26, 2017



Long-struggling Minneapolis-based Arctic Cat is being purchased by Textron Inc. for $247 million in cash, a consolidation coming at a time when sales of all-terrain vehicles and snowmobiles have been under pressure, company officials announced Wednesday.

The sale to Rhode Island-based Textron, a conglomerate whose products include helicopters and golf carts, follows extended turnaround efforts by the Minnesota company that failed to yield consistent profits or greatly excite consumers with new models.

http://www.startribune.com/longtime-minnesota-snowmobile-maker-arctic-cat-sold-for-247m/411748026/

 

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