Thor Industries, Inc. (NYSE: THO) today announced the acquisition of Jayco, Corp. (Jayco) for approximately $576 million in cash. This transaction represents a unique and significant opportunity to enhance the growth of Thor and advance the Company’s strategic focus on growing its recreational vehicle (RV) business. In particular, Jayco brings complementary products in travel trailers, folding camping trailers, higher-end diesel Class A motorhomes and larger Class C motorhomes. Jayco will be a wholly owned subsidiary of Thor, and the existing senior management team will continue to lead the business.
“We are thrilled to welcome Jayco to the Thor portfolio of companies,” said Bob Martin, Thor President and CEO. “Jayco is a company that I have admired for more than 20 years while working in the industry and living in the community very close to their operations. We value the longstanding success of Jayco and are committed to providing the Bontrager family, and their team of dedicated employees, the resources they need to continue the success they have built at Jayco over the past half century. This investment also illustrates our confidence in the future of the RV industry as younger consumers enter and expand the market over the coming decades. Both existing and new RVers will see the benefits of our subsidiaries’ efforts as they lead in innovation with new technology and features in our products that make RVs easier to use and better connected.” Read Full Story →