Arctic Cat set for possible comeback after company sold to former exec
Following mass layoffs that saw nearly 400 employees let go from its Thief River Falls plant this year, Arctic Cat has been sold again — and the new owners are hinting at a resurgence for the brand.
The purchase of the Minnesota snowmobile and all-terrain-vehicle (ATV) producer was announced Thursday. According to a press release, one of the buyers is Brad Darling, a former Arctic Cat executive who worked at the company for 17 years before becoming CEO and president of ARGO, a Canadian manufacturer of amphibious ATVs, in 2016.
He is backed by an investment group and "will continue to lead both companies into the future," the release says, adding that the companies will be owned and operated separately.
Darling and his group take over ownership from Rhode Island-based Textron Specialized Vehicles, which bought Arctic Cat in 2017.
In a statement, Darling laid out an ambitious path for Arctic Cat:
'The pursuit of the checkered flag is in Arctic Cat's DNA. It's what we were built on. Like anyone who has ever grabbed the throttle – it's a relentless drive that pushes us forward and sparks our passion. Today is the start of a new chapter, one where Arctic Cat returns to the race, but with a powerful understanding: this race is never-ending, and our intent is to lead.'
He also noted Arctic Cat's history in Thief River Falls, saying that "this iconic brand has benefitted from the passion of not only the employees but also the entire community."
"We are now able to wipe away any uncertainty and are looking ahead with great excitement," Darling said.
However, the release does not mention any specifics about reopening the Thief River Falls plant.
Arctic Cat was formed in the city in 1962, according to the company website.
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