BRP buys 80% stake in German gearbox technology firm in bid to expand business

·1 min read

VALCOURT, Que. — BRP Inc. says it has acquired an 80 per cent stake in a German gearbox technology company.

The Quebec-based maker of Ski-Doos and Sea-Doos did not say what it will pay for the stake in Pinion GmbH, which is based in Denkendorf and has a team of 60 employees.

José Boisjoli, BRP's CEO and president, says BRP will leverage Pinon's technology to develop new electric human-assisted products.

He adds the acquisition will allow his company to expand and enter untapped categories, such as urban mobility and services.

Pinion, which will continue to maintain offices in Germany, was founded in 2008 by automotive engineers Christoph Lermen and Michael Schmitz, who will remain as shareholders in the business.

The acquisition comes after BRP bought Great Wall Motor Austria GmbH, a business based in Kottingbrunn, Austria, which specializes in electric drive systems and transmissions.

This report by The Canadian Press was first published Aug. 5, 2022.

Companies in this story: (TSX:DOO)

The Canadian Press

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