Fri Nov 8, 2019
Author: RV News Staff
Winnebago Industries Inc. has completed its previously announced acquisition of Newmar Corp., a leading manufacturer of type A and super C motorized RVs. Consideration paid included $270 million in cash plus 2 million shares of Winnebago Industries common stock.
“The acquisition of Newmar further strengthens our core RV platform and enhances the scale and profitability of our overall motorhome business,” Winnebago Industries President and CEO Michael Happe says. “We are excited to welcome Newmar into our premium portfolio and look forward to working with their dedicated and talented team and high-quality dealer network to drive new growth opportunities and significant value creation for our employees, customers and shareholders.”
Goldman Sachs & Co. acted as financial adviser to Winnebago Industries and Faegre Baker Daniels served as legal adviser.
Newmar joins a roster of Winnebago Industries outdoor lifestyle brands that also includes Winnebago, Grand Design and Chris-Craft. Newmar is based in Nappanee, Indiana, and has manufacturing and customer service operations there. A nationwide network of 55 dealer service centers provides customer service and support.