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Winnebago Industries makes $ 344M deal to buy luxury RV maker



Winnebago Industries has a purchase agreement for the construction of a premium motor home manufacturer Newmar Corp. completed for approximately $ 344 million.

Winnebago Industries, based in Forest City, Iowa, managed by Eden Prairie, pays $ 270 million in cash and the remainder in stock for the Indian company Newmar in Neppanee. The transaction is contingent on specific closing conditions, but is expected to close in the first quarter of fiscal year 2020 of Winnebago, which ends on November 23, portfolio of leading outdoor lifestyle brands, "said Mike Happe, President and CEO of Winnebago, in a statement

Winnebago manufactures motorhomes under the Winnebago brand, semi-trailers and caravans under the Grand Design brand and luxury boats under the Chris-Craft brand.

The privately held Newmar, which has been producing luxury motorhomes for more than 50 years , will help expand the range of motorhome options that Winnebago can offer to consumers. The Aire offering starts at $ 962,1

30 and includes amenities such as world-class indoor and outdoor entertainment systems, extendable systems that expand the vehicle's square footage King size bed and luxurious interiors and fabrics.

N ewmar will become a division of Winnebago Industires, and Newmar President Matthew Miller will continue the business.

Winnebago shares traded at $ 36.71 on the early trading day, down 6 cents per share. Winnebago's shares have risen more than 50% since the beginning of the year.

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