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The recent news surrounding the acquisition of Jayco Inc. by Thor Industries has been nothing but positive. While there is always some apprehension around such a significant sale – both internally and externally – RV consumers and dealers should expect a “business as usual” and positive approach for both the short and long terms.
From left: Jayco Inc`s Wilbur Bontrager and Derald Bontrager with Bob Martin of Thor Industries during the announcement of the acquisition July 1, 2016.
Thor Industries – the parent company of more than a dozen RV subsiduaries –purchased Jayco Inc. for $576 million in a cash deal that includes the acquisition of Jayco, Starcraft RV, Highland Ridge and Entegra Coach. According to Thor Industries, Jayco Inc. will operate as its own entity with no changes to its executive management or to its long-standing focus to consumers and its 800-plus dealer base. The sale was announced July 1.
“With Thor Industries, we will certainly continue to develop new products and stand behind the quality of our model lines as we have for the past 48 of years of being an independently family-owned company,” Derald Bontrager, President and CEO of Jayco Inc. said to RVlife.com. “Consumers should have tremendous confidence with this acquisition. It will be a seamless process for them – as well as for our internal people and dealers – and we are continuing on with the same philosophy, values, and quality of product.”
Jayco Inc.`s headquarters in Middlebury, Indiana
Following the acquisition, it was reported that Jayco Inc. generated an impressive $1.5 billion throughout 2015 and was considered the largest privately-owned RV company in the world. According to Thor Industries, one of the key benefits of the acquisition is the strengthening of Jayco Inc.`s company resources and the addition of many competitive brands to Thor Industries` RV portfolio. This includes Jayco Inc.’s travel trailers, folding camping trailers, plus Class A and Class C motorhomes. As a result, consumers and dealers can expect continued efforts for the company to be aggressive in the RV marketplace.
“Our goal is simple,” adds Thor Industries’ CEO, Bob Martin. “Jayco Inc. will continue to operate and manage the company the same way they have done for years and warranties and service will remain the same. We are not coming in to change everything. I think people are expecting that and that`s not going to happen. It would be foolish of us to change the great ways they do business or change up the management. When we buy a successful company we add to its success. ”
Jayco Inc. will Keep Meeting Market Trends
Following the acquisition, Thor Industries`subsidiaries account for approximately 47 percent of retail registrations in North America, making it one of the largest companies on the RV landscape.
“Jayco is a great company and we are adding some very popular brands to Thor Industries. All of our brands strive to be the top brands,” says Bob Martin, CEO of Thor Industries.
“We strive to be the best, not the biggest,” said Martin. “We have enjoyed a lot of organic growth since the downturn in 2008 and with this purchase, it wasn`t about becoming the biggest. We don’t think that way. It was really about the opportunity. Jayco is a great company and we are adding some very popular brands to Thor Industries, and like all of our subsidiaries they work hard to be the top brands in their segments.”
With a keen eye to the future, the Bontragers will stay at the helm of Jayco Inc. steering the company forward and recognizing bigger and better things that are to come for the RV industry in North America and beyond.
“I see the RV market continuing to be very strong in the U.S. and Canada and Jayco will keep meeting market trends. We will also grow and compete like we have done in the past,” said Bontrager. “We are very excited about this and it will be a seamless transition not only for everyone involved, but for all of our customers as well.”
