ATV, snowmobile, and motorcycle maker Polaris Industries has acquired French on-road "quadricycle" vehicle manufacturer Aixam Mega S.A.S., Polaris announced Thursday.
Quadricyles are four-wheeled, on-road enclosed vehicles characterized by light weight and low speed. In some countries, they may be driven on roads without possession of a regular automobile driver's license. Aixam Mega designs, manufactures, and sells both passenger and light-duty commercial quadricycles under the Aixam and Mega brands.
According to Polaris, the Aixam acquisition is aimed in part at improving the company's "profitability and growth potential" in Europe. Company CEO Scott Wine points out that Aixam is also "an excellent fit with Polaris," and complements the company's plans to build a new manufacturing facility in Opole, Poland.
Polaris did not release financial details on the acquisition, but did say that Aixam did $110 million in 2012 sales, and is expected to be pro forma profitable for Polaris in 2013.
The article Polaris Buys Quadricycle Maker Aixam Mega originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends Polaris Industries. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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