Polaris Industries Acquires Its Distributor Operations of R. L. Ryerson

    MINNEAPOLIS--June 27, 2001--Today Polaris Industries Inc. announced plans to acquire the Polaris distributor operations and related assets from the R. L. Ryerson Company. The deal, which is expected to close July 2, will enable Polaris to sell 100 percent dealer direct in the United States and Canada, resulting in better efficiency for dealers and increased profitability for Polaris.
    "Polaris has valued the R. L. Ryerson Company's ongoing support of our products and brand for nearly 30 years," said Tom Tiller, President and CEO of Polaris Industries. "R. L. Ryerson contributed significantly to the growth of Polaris sales and its dealer network through solid business leadership and strong dealer relationships. We look forward to offering our dealers the same high level of service through this acquisition."
    The R. L. Ryerson Company was Polaris' last independent distributor in the United States and Canada, and serviced more than 150 Polaris dealers in Illinois, Eastern Wisconsin and the Upper Peninsula of Michigan for the past 29 years.
    "R. L. Ryerson has enjoyed its long relationship with Polaris Industries," said Jack Eimerman, President, of R. L. Ryerson Company. "This acquisition benefits both of our companies, allowing Polaris to sell entirely direct in the U.S., and allowing R. L. Ryerson to explore new opportunities with our business."
    The R. L. Ryerson Company, located in Menomonee Falls, Wis., is the distributor for TORO consumer products, including Toro and Lawnboy mowers and snow-throwers, Wheelhorse lawn and garden tractors, and Toro landscape contractor equipment. The Polaris acquisition does not include other non-Polaris products. The companies are not disclosing financial terms of the transaction.