Club Car To Acquire Danish Golf Car Manufacturer Garia A/S
Club Car plans to acquire a Danish company that will help expand the golf cart manufacturer’s reach in the growing global market.
Club Car has signed “a definitive agreement” to obtain Garia A/S, which has produced luxury golf and leisure vehicles since 2005, the companies announced Saturday.
Financial terms of the agreement were not disclosed. The deal is expected to be finalized by the end of June.
In 2015, Garia launched its Garia Utility line of vehicles designed for work environments such as facility management and last-mile delivery. Last November, Garia acquired Polish lightweight utility vehicle manufacturer Melex.
Both companies’ utility products are mostly models that Club Car doesn’t currently manufacture, according to a media release.
“Our product lines complement each other nicely with very little overlap,” Club Car President Mark Wagner said in the release, calling the Garia deal “great news for our dealers and customers in Europe and the United States who will have access to a wider range of zero-emission, on and off-road vehicles at a greater variety of price points.”
Garia is a subsidiary of the Lars Larsen Group, which owns companies in the golf car, furniture, hotel, and restaurant sectors.
Club Car is a subsidiary of private-equity firm Platinum Equity LLC, which acquired Club Car in 2021 from Ingersoll-Rand Inc.
The global golf car industry is projected to grow from $1.69 billion in 2021 to $2.55 billion in 2028, according to market data research firm Fortune Business Insights.