BRP Inc 6-K, filed Oct 3, 2022
BRP Inc. (DOO)
About this 6-K
BRP Inc filed this 6-K on October 3, 2022.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of October, 2022
Commission File Number: 001-38648
BRP INC.
(Translation of registrant’s name into English)
726 Saint-Joseph Street
Valcourt, Quebec, Canada
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☐ Form 40-F ☒
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
EXHIBIT INDEX
Exhibits 99.1 to this report of a Foreign Private Issuer on Form 6-K is deemed filed for all purposes under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended.
| Exhibit No. |
Description | |
| 99.1 | Press Release of BRP Inc., dated October 3, 2022 | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| BRP Inc. | ||
| By: | /s/ Martin Langelier | |
| Name: | Martin Langelier | |
| Title: | Chief Legal Officer | |
| Date: October 3, 2022 |
Exhibit 99.1
|
PRESS RELEASE For immediate distribution |
BRP COMPLETES THE ACQUISITION OF THE SHAWINIGAN OPERATIONS OF KONGSBERG INC.
Valcourt, Quebec, October 3, 2022 – BRP Inc. (TSX:DOO; NASDAQ:DOOO) announces that it has completed the previously announced acquisition of substantially all the assets related to the powersports business of Kongsberg Inc. in Shawinigan, Quebec (henceforth referred to as “KA Shawinigan”), a subsidiary of Kongsberg Automotive ASA.
KA Shawinigan is a leading player in the development and manufacturing of electronic and mechatronic products and a long-standing supplier of BRP. This acquisition is in line with BRP’s product strategy, particularly as it relates to its electrification plan. It is expected to allow the Company to gain further expertise in mechatronics and bolster its innovation capabilities.
BRP is pleased to welcome over 300 highly trained and skilled employees, specialized in developing and manufacturing key components for many of its product lines.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
Certain information included in this release, including, but not limited to, statements relating to the anticipated benefits associated with the completion of this acquisition, the Company’s business and strategic plans, and other statements that are not historical facts, are “forward-looking statements” within the meaning of Canadian and United States securities laws. Forward-looking statements are typically identified by the use of terminology such as “may”, “will”, “would”, “should”, “could”, “expects”, “forecasts”, “plans”, “intends”, “trends”, “indications”, “anticipates”, “believes”, “estimates”, “outlook”, “predicts”, “projects”, “likely” or “potential” or the negative or other variations of these words or other comparable words or phrases. Forward looking statements, by their very nature, involve inherent risks and uncertainties and are based on several assumptions, both general and specific. BRP cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results or performance of BRP to be materially different from the outlook or any future results or performance implied by such statements. Further details and descriptions of these and other factors are disclosed in BRP’s annual information form dated March 24, 2022.
About BRP
We are a global leader in the world of powersports products, propulsion systems and boats built on 80 years of ingenuity and intensive consumer focus. Our portfolio of industry-leading and distinctive products includes Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft and pontoons, Can-Am on and off-road vehicles, Alumacraft and Quintrex boats, Manitou pontoons and Rotax marine propulsion systems as well as Rotax engines for karts and recreational aircraft. We complete our lines of products with a dedicated parts, accessories and apparel portfolio to fully enhance the riding experience. With annual sales of CA$7.6 billion from over 120 countries, our global workforce includes close to 20,000 driven, resourceful people.
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Ski-Doo, Lynx, Sea-Doo, Can-Am, Rotax, Alumacraft, Manitou, Quintrex, and the BRP logo are trademarks of Bombardier Recreational Products Inc. or its affiliates. All other trademarks are the property of their respective owners.
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| For media enquiries: | For investor relations: | |
| Biliana Necheva | Philippe Deschênes | |
| Media Relations | Investor Relations | |
| media@brp.com | Tel.: 450.532.6462 | |
| philippe.deschenes@brp.com | ||