Polaris Industries has acquired motorcycle and snowmobile gear manufacturer KLIM. Terms of the acquisition were not disclosed.

The KLIM brand will continue operating as a standalone business alongside Polaris’ existing apparel labels. KLIM staff will continue operating at its existing headquarters in Rigby, Idaho. In fact, Polaris plans to make KLIM’s Rigby facility its new apparel “Center of Excellence”, using the company’s expertise and capabilities across all Polaris apparel brands.

“I built KLIM with a passion for the category and a commitment to the world’s adventure snowmobile and motorcycle riders,” says Justin Summers, KLIM founder, president and CEO.  “We had a vision of making products that mattered, that solved problems and that were the best they could be. I am very proud of what we have built at KLIM, and I am fired up that the next chapter of the KLIM story will be written through our exciting partnership with Polaris. KLIM will now have the resources to reach the next level as we continue to innovate and lead into the future.” Continue Reading »

Ducati is now officially property of Audi AG, with the German automaker finalizing its acquisition of the Italian motorcycle brand. The purchase was completed through Lamborghini S.p.A., another Audi property and part of the overall Volkswagen family.

Rupert Stadler, chief executive officer of Audi AG, has been named president of Ducati‘s new board of directors. Gabriele del Torchio, pictured above, will have a seat at the board and will remain as chief executive officer of Ducati Motor Holding and president of Ducati’s executive committee. Claudio Domenicali, Ducati’s general manager and head of its racing program, will also be a member of the new board of directors.

Also joining the board are Horst Glaser and Axel Strotbek from Audi AG. Del Torchio has also been appointed to the board of directors of Lamborghini, Ducati’s neighbor in Bologna, Italy. Continue Reading »

The European Union has granted approval of Audi‘s acquisition of Ducati, removing any legal barriers to the sale. The approval was expected, but an official decision was nevertheless required before the transaction could proceed.

The acquisition was announced in April but the deal was still subject to examination by anti-trust authorities. That approval came June 28 as the European Commission, the executive body of the E.U. officially granted its blessing. The Commission examined the deal under the simplified merger review procedure ruled the acquisition “does not raise serious doubts as to its compatibility with the common market” (also known as Article 6(1)(b) of the E.U. Merger Regulation.) Continue Reading »

Audi has officially announced it has acquired Ducati Motor Holding from Investindustrial. Terms of the deal were not announced, though they should be made available April 19 at the annual stockholders meeting for Audi’s parent company, the Volkswagen Group. Previous reports have the price pegged at 860 million euros (US$1.1 billion). (UPDATED with statement from Investindustrial.)

“Ducati is known worldwide as a premium brand among motorcycle manufacturers and has a long tradition of building sporty motorcycles,” says Rupert Stadler, chairman of the board of management of Audi. “It has great expertise in high-performance engines and lightweight construction, and is one of the world’s most profitable motorcycle manufacturers. That makes Ducati an excellent fit for Audi.”

Audi says it will benefit from Ducati’s knowledge of lightweight construction and “the progressive control systems and special combustion chamber process of Ducati engines”. Continue Reading »