Today Polaris Inc. announced it has made the strategic decision to focus its marine investments and growth efforts on its flagship boating brands. As a result, Polaris will stop producing Rinker, Striper and Larson FX boat brands at its Syracuse, Indiana plant in June.
“This decision was made after extensive consideration of every available alternative,” said Bob Mack, president of Global Adjacent Markets and Boats, and senior vice president of Corporate Development & Strategy, Polaris. 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.”
The action entails closing the Syracuse facility which will result in the elimination of 120 jobs. 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.
The company will continue to produce its Bennington, Godfrey, and Hurricane boat brands in its two campuses located in Elkhart, Indiana.
Polaris purchased the Larson FX and Striper brands in 2019 and the Rinker brand as a part of its Boat Holdings acquisition in 2018.