Cycle Country Accessories Corp. has announced that it is selling its ATV Accessories product line to Kolpin Outdoors Inc. of Fox Lake, Wis., for $9.7 million, subject to certain adjustments and contingencies.
“After exploring all available alternatives, it was determined that selling the ATV Accessories product line was the best opportunity to maximize the value of the business for our company stockholders, as well as to provide the best opportunity for our customers, employees and suppliers,” Cycle Country CEO Robert Davis said in a prepared statement.
Cycle Country will continue to manufacture the ATV Accessories products for Kolpin under a manufacturing agreement between the parties.
Closing is expected to occur within approximately 30-45 days, subject to the appropriate regulatory review and consents.
Like Cycle Country, Kolpin Outdoors, headquartered in Fox Lake, Wis., is a dominant player in the ATV accessories industry. This acquisition will give them a substantial share of the ATV/UTV aftermarket accessories category.
“We are very pleased be able to bring together two of the premium brands in the powersports space, Kolpin and Cycle Country,” said Tom Lutes, president and CEO of Kolpin. “Our intentions are to keep the current Cycle Country products and brand exclusive to the powersports channel, while pursuing new, differentiated product in other channels under the Kolpin brand.”
For more information about Cycle Country, visit www.cyclecountry.com.
