Today Polaris Inc. announced it will focus its marine investments and growth efforts on its pontoon brands.
As a result, Polaris will stop producing Rinker, Striper and Larson FX boat brands at its Syracuse, Ind., plant in June, and will result in the elimination of 120 jobs.
The company will continue to produce its Bennington, Godfrey, and Hurricane boatbrands at their two facilities in Elkhart, Ind.
Polaris bought all the brands from Boat Holdings; the pontoon brands were acquired in 2018, and Larson, Rinker and Striper were purchased in January 2019. At the time, Polaris said the subsequent purchase gave it a foray into the saltwater fishing market.
“This decision was made after extensive consideration of every available alternative,” said Bob Mack, boats and adjacent markets president, in a statement. "We were fully prepared to expand these brands and our presence within their respective segments of the marine industry. But today, considering market dynamics and the continued uncertainty around the sustained impact of the covid-19 pandemic, we have decided not to move forward with investing the necessary resources to maintain and grow Rinker, Striper and Larson FX, and will discontinue production of those brands.”
Some of the employees impacted by the decision will have opportunities at Polaris Boats’ Elkhart campuses.
“We deeply regret the impact this will have on our employees, boat dealers, sales representatives, suppliers – and, of course, our Rinker, Striper and Larson FX customers,” Mack continued. “However, today’s decision will allow us to concentrate our investments on driving growth and innovation within Bennington, Godfrey and Hurricane and strengthening our leadership in those segments.”
Polaris will continue to provide customer service and parts support for Rinker, Larson FX and Striper boats and will honor the warranties of boats purchased from Polaris.