Thor Industries details restructuring of Heartland RV brand
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Elkhart-based recreational vehicle manufacturer Thor Industries Inc. on Wednesday announced what it is calling a strategic organization restructuring of its Heartland Recreational Vehicles brand.
The company said Heartland RV will be integrated into Thor’s Jayco Inc. subsidiary, with the goal of “enhancing operational efficiencies and streamlining business processes.”
Heartland RV, also based in Elkhart, manufactures a variety of recreational vehicles, including travel trailers, fifth wheels and toy haulers.
The company employs about 850 people, and a Thor spokesperson told Inside INdiana Business that there are no immediate plans for layoffs as a result of the transition.
Thor CEO Bob Martin said in a news release that the company’s subsidiaries are focused on brand rationalization during the current downcycle in the RV market.
“This restructuring takes the idea of rationalization for optimization to the next level as we considered the impact of the evolved marketplace in the U.S. RV market, which includes significant dealer consolidation,” Martin said. “This move aligns Heartland with Jayco’s proven track record of optimized operations, a strong competitive brand offering, and customer service.”
Martin noted that Heartland RV has faced challenges in the current market conditions, while Jayco has “demonstrated consistent excellence.” He said bringing Heartland under the Jayco umbrella creates potential to maximize the performance of both brands.
“By leveraging Jayco’s expertise, and leaning into Jayco’s support structure, we are confident that Heartland will achieve meaningful performance improvements, delivering greater value to our customers, dealers, and stakeholders,” said Martin.
The transition is expected to take place over the coming months, according to Thor.
“As we welcome Heartland into the Jayco family, we will ensure the same excellence in the products that Jayco currently offers to the market and also in the relationships that we manage both with our dealers and our retail customers,” Jayco President Ken Walters said in the release. “Importantly, there will be no disruption of the ownership experience of current Heartland owners and dealers.”
Jayco is headquartered in Middlebury. Thor acquired the company in 2016 for $576 million.
As part of the restructuring, Thor said certain private label RV brands manufactured by Heartland will be transferred to Dutchmen Manufacturing, a division of Thor subsidiary Keystone RV Co.
“Our goal is to foster a more seamless operational framework that allows us to operate more efficiently and more effectively in the evolving U.S. market,” Martin added. “This restructuring reflects our dedication to long-term growth, efficiency, and excellence in the RV industry.”
The spokesperson for Thor added that the company does not anticipate any costs associated with the restructuring at this time.