Thor’s Bus Unit Buys Federal Coach for $6.8M
Thor Industries Inc. announced that its Champion Bus Inc. subsidiary has purchased the bus operation assets of Federal Coach, Goshen, Ind., for $6.8 million in cash from Forest River Inc.
According to a news release, Champion plans to move the assets and begin production of Federal Coach buses at its Imlay City, Mich., production facility in early calendar 2013.
Federal Coach is a premier luxury bus manufacturer, producing a full line of shuttle, executive and limousine buses ranging in capacity from 12 to 44 passengers with annual sales of approximately $25 million. Thor’s Bus Group generated net sales of approximately $444.9 million in the fiscal year ended July 31.
“We are pleased to add the Federal Coach line of luxury buses to our family of brands,” said Andrew Imanse, Thor Bus Group President. “The addition of the Federal Coach line offers Thor’s Bus Group both potential operating synergies and access to important markets within the industry.
“The purchase of the Federal Coach assets, like the purchase of the assets of Krystal Infinity LLC, dba Krystal Enterprises, in September 2012, brings an upscale, high-end retail product that complements our existing product lines, including Champion’s Defender, Crusader and Challenger bus lines.”