THOR Industries Acquires Tiffin Motor Homes And Related Companies For $300 Mln

(RTTNews) - THOR Industries Inc. (THO) said that it has acquired Tiffin Motor Homes Inc. and related companies for $300 million.

The deal is funded with a combination of available cash and a draw on the company's existing asset-based credit facility.

Tiffin Group LLC, a wholly owned subsidiary of THOR, will own the Tiffin Group, which will continue to be managed by the Tiffin family and existing senior management team.

The company said it anticipates holding a virtual Investor Update Event in the second half of its fiscal year to provide investors with a comprehensive update on the Company's progress and current outlook regarding the 2025 goals related to net sales, gross margin and cash flow from operations that the company introduced in October 2019.