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Thor Industries Acquiring Towable Builder K-Z

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April 17, 2014 by   1 Comment

                         Thor Industries Inc. today (April 17) announced that it has entered into an agreement to acquire the outstanding capital stock of recreational vehicle manufacturer K-Z Inc. in a transaction closing effective May 1.  The purchase price, which will be paid in cash, is approximately $53.4 million, subject to adjustment.

“We are pleased to welcome K-Z to the Thor family.  With a strong focus on value, service and quality, K-Z brings an exceptional way of doing business that really stands apart in the RV industry,” said Bob Martin, Thor president and CEO. “With an iconic and long-standing brand, K-Z has built a successful business over the past 40 years serving a diversified distribution network of more than 200 dealers that are strong business partners. At Thor, we recognize the success of K-Z and want to see that continue as we support the management team in the next phase of their growth.”

Founded in 1972, Shipshewana, Ind.-based K-Z’s portfolio includes strong brands such as Sportsmen, Spree and Durango offering a comprehensive selection of travel trailers, fifth-wheels and toy haulers with retail price points as low as $10,000 for entry-level products.  The company produces its RVs at a complex consisting of 396,000 square feet of office and production space spread among six primary facilities operated by a team of approximately 320 employees. K-Z generated sales of nearly $150 million for its fiscal year ended December 31, 2013, and Thor expects the acquisition to be accretive to earnings.

“Becoming a part of Thor allows us to continue to operate K-Z with the core values and relationships that have made us successful since our founding,” said Daryl Zook, founder and CEO of K-Z. “We understand the importance of partnering with a local company that has strong roots in the RV industry and in our communities of northern Indiana. We share a strong commitment to product quality and excellent customer and dealer relationships that make Thor an ideal partner for K-Z.”

 

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Comments

One Response to “Thor Industries Acquiring Towable Builder K-Z”

  1. James on April 17th, 2014 5:32 pm

    This will put Thor just ahead of Forest River in the Race for Top Dog. Stay tuned for the next Forest River purchase to put them ahead and so on and so on.

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