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5h ago

Polaris to Sell Majority Stake in Indian Motorcycle to Carolwood, Creating Standalone Company

Polaris expects the move to lift profit metrics, refocusing capital on faster‑growing segments.

A worker cleans an Indian motorcycle before moving it to the showroom at Indian Motorcycles of Northern New Jersey in Union, Picture taken August 20, 2013. REUTERS/Eduardo Munoz/File Photo
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Overview

  • Polaris signed a definitive deal to sell a majority stake in Indian Motorcycle to Carolwood LP, with closing targeted for the first quarter of 2026 subject to customary conditions.
  • Carolwood selected industry veteran Mike Kennedy as CEO, and roughly 900 employees plus plants in Spirit Lake and Monticello and a design center in Burgdorf will transfer to the new company.
  • Polaris will keep a small equity stake in Indian Motorcycle, with other financial terms not disclosed.
  • Upon close, Polaris projects about $50 million in annualized adjusted EBITDA accretion and roughly $1.00 to adjusted EPS.
  • Polaris guided third‑quarter sales to the high end of its range and adjusted EPS of $0.31–$0.41, helping lift shares more than 10% in after‑hours and premarket trading.