Arctic Cat was purchased in April 2025 by Brad Darling, a former Arctic Cat executive who also serves as the CEO and President of Argo, along with an investment group that owns a significant stake in Argo/Ontario Gear & Drive Corporation. The acquisition was made from Textron, which had owned Arctic Cat since 2017. Brad Darling and the investment group now own Arctic Cat, and Darling will lead both Arctic Cat and Argo, although the two companies will operate separately

. This sale followed layoffs at Arctic Cat's Thief River Falls plant and a decision by Textron to cease manufacturing operations there in early 2025

. Darling expressed optimism about Arctic Cat's future and commitment to continuing investment in the brand, products, and community