LANSING — Triton Industries Inc., the manufacturer of Manitou pontoon boats, has agreed to sell to Bombardier Recreational Products, a Quebec-based vehicle manufacturer, according to a statement.
Acquiring the Lansing-based Triton Industries, a family-owned business with 150 dealers in North America and roughly 160 employees, “is the logical next step in the roll-out of our global marine strategy,” stated Bombardier Recreational Products President and CEO José Boisjoli.
The deal marks the second acquisition of a boat manufacturer for Bombardier (TSX: DOO) and will solidify the company’s “position in the market,” enabling it to “transform the customer experience (and) drive opportunities for dealers,” Bombardier said in a statement.
The deal is expected to close in the third quarter of the company’s current 2019 fiscal year.
Terms of the deal were not disclosed.
EDITOR’S NOTE: This story has been updated from its orginal version.