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Polaris Industries Inc. said Tuesday it is buying Indian Motorcycle Co., the iconic brand that sold the first American motorcycle and was once the largest motorcycle maker in the world.
Terms of the deal were not disclosed.
Medina-based Polaris (NYSE: PII) said in a news release that it made the purchase from Indian Motorcycle Limited, which took over the brand in 2004.
"We are excited to be part of the revitalization of a quintessentially American brand," CEO Scott Wine said in a statement. "With our technology and vision, we are confident we will deliver the classic Indian motorcycle, enhanced by the quality and performance for which Polaris and Victory are known." Polaris, which has its own line of Victory cruiser and touring bikes, said Indian will operate as an autonomous business unit.
Indian was formed in 1901 and within a decade was the largest motorcycle manufacturer in the world. The original company went bankrupt in 1953, and a number of successor companies have kept the brand alive.
Steve Heese and Stephen Julius bought the brand in 2004
Terms of the deal were not disclosed.
Medina-based Polaris (NYSE: PII) said in a news release that it made the purchase from Indian Motorcycle Limited, which took over the brand in 2004.
"We are excited to be part of the revitalization of a quintessentially American brand," CEO Scott Wine said in a statement. "With our technology and vision, we are confident we will deliver the classic Indian motorcycle, enhanced by the quality and performance for which Polaris and Victory are known." Polaris, which has its own line of Victory cruiser and touring bikes, said Indian will operate as an autonomous business unit.
Indian was formed in 1901 and within a decade was the largest motorcycle manufacturer in the world. The original company went bankrupt in 1953, and a number of successor companies have kept the brand alive.
Steve Heese and Stephen Julius bought the brand in 2004
Surprising.
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