Polaris Inc. has decided to spin off Indian Motorcycle into a separate company. This is a major shift in their strategy after taking over and reviving the brand in 2011.
In the agreement, private equity firm Carolwood LP will buy a majority stake in Indian Motorcycle while Polaris will retain a minority stake. The transaction is targeted to close in the first half of 2026, providing a clearer direction for both companies.
Up to 900 employees from factories in Iowa and Minnesota, as well as a design center in Switzerland, will move to the new company. Mike Kennedy will be named CEO to lead Indian Motorcycle as an independent brand.
Polaris expects the spin-off to add revenue of approximately ₱2.9 billion (USD 50 million) and add nearly ₱58 per share (USD 1.00) to its earnings.
Founded in 1901, Indian Motorcycle was revived under Polaris and is now poised to continue as an independent brand focused on innovation, more models, and a stronger global presence.
