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MINNEAPOLIS (April 19, 2011) — Polaris Industries Inc. (NYSE: PII) today announced the acquisition of Indian Motorcycle. The business was acquired from Indian Motorcycle Limited (“IML”), a company advised by Stellican Limited and Novator Partners LLP, U.K. Private Equity firms. Terms of the transaction were not disclosed.

“We are excited to be part of the revitalization of a quintessentially American brand,” said Scott Wine, CEO of Polaris Industries Inc. “Indian built America’s first motorcycle. 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.”

With this acquisition, Polaris adds one of motorcycling’s legendary brands to its strong stable of Victory cruiser and touring bikes. Indian will operate as an autonomous business unit, building upon the potent combination of Polaris’ engineering acumen and innovative technology with Indian’s premium brand, iconic design and rich American heritage.

“We are delighted to have reached an agreement with Polaris. Polaris will utilize its well-known strengths in engineering, manufacturing, and distribution to complete the mission we undertook upon re-launching the brand in 2006: harness the enormous potential of the Indian brand,” said Stephen Julius, chairman of Indian and managing director of Stellican. “Polaris is the most logical owner of Indian Motorcycle. Indian’s heritage brand will allow Polaris to aggressively compete across an expanded spectrum of the motorcycle market.”

Novator Partners LLP is a London based alternative investment firm founded and led by the investor Mr. Thor Bjorgolfsson. An avid motorcycle enthusiast, Mr. Bjorgolfsson said “After a troubled past, our goal was to bring the legendary Indian bikes back on the roads. The initial phase of that project is done and now our great partners at Polaris will carry on the work to realize the full potential of this classic American brand.”

Well maybe we will see a brand new indian. Thank god !

Wow !!! IMHO...good business move !!! probably market high end cruisers or ??

Lets hope they expand Indian motorcycles and create some new jobs for an industry thats been hurting lately.

The new Victorys look sweet,wonder what niche the Indians would occupy,or could they be rebadging the whole line?

The Indian will be their "Old Style" line and will give the Victory an open field for the "New Style" modern and "Designer" Ness series. I don't believe that Polaris wants to compete with HD and limit their Engineering/Design departments in the Victory brand. (too limiting) I look to see some real New Design and style simular to their new Cruisers....JMHO

I almost think that the control of the brand is gonna put some fear in the Harley marketing crowd also,Polaris obviously took out a main player buying up Indian.Could be that they leave Indian on the shelf ? n roll her out when the real sales war begins next spring when the economy gets back into better waters, I havent seen any economic recovery worth writing about yet,too many folks are still losing homes n banks are being uncooperative in helping familys save their homes,geesh what else is new???

This "may" answer a few questions:

www.motorcycle-usa.com/744/9776/Motorcycle-Article/Polaris-CEO--No-1-Indian-Dealer-Talk-Acquisition.aspx />

jb

The concept of the Indian Motorcycle Company always keeps me shaking my head! Indian is like a hooker, she'll jump in bed with anybody and leave with all your cash before morning!
I remember when they closed their doors to their factory back in the early 2000's and tried to steal all the mechanics tools, they just about burned the place to the ground! LOL