Heartland Recreational Vehicles LLC in Elkhart has acquired a Nappanee-based trailer manufacturer. Both are subsidiaries of Elkhart-based Thor Industries (NYSE: THO). The deal for Breckenridge is expected to be complete next week. As a result of the move, Heartland President Chris Hermon will lead Breckenridge operations. July 24, 2013
ELKHART, Ind., – Heartland Recreational Vehicles LLC today announced the acquisition of the assets of Breckenridge, a market leader in the park model business. The acquisition is designed to maximize sales and increase market share in the growing park model and destination trailer segments.
The acquisition, effective August 1, will combine Breckenridge's reputation as a respected, quality-oriented manufacturer with Heartland's oversight and management expertise. Heartland is a wholly-owned subsidiary of Thor Industries, Inc.
As part of the move, Heartland President Chris Hermon will also oversee the Breckenridge operations Hermon reported that the Breckenridge will build product year-round from dedicated manufacturing and service facilities that would cater to the destination trailer segment.
“Dealers will be able to order product any time during the year,” he said, noting that Heartland currently sells two destination trailer brands. “That will set us apart from other manufacturers that only build a few times a year. Dealers will be energized to work with companies committed to this product segment.”
Hermon continued, “We believe the Breckenridge acquisition will be a very symbiotic arrangement. We have a lot to offer Breckenridge in terms of leadership, support and direction while Breckenridge has a lot to offer in product, manufacturing and a deeply loyal customer base,” he said. “By combining forces, Breckenridge will become even stronger and continue to be a leader in the park model and destination trailer markets while Heartland will be able to grow its destination trailer business.”
Breckenridge was founded in 1991 and has since been a forerunner in the park model and destination trailer industry and currently offers a full complement of products to meet emerging demands.
“Breckenridge has very strong brand recognition with consumers,” said Hermon, who joined Heartland in May of 2012. “Our focus will be to apply our proven business model to build business for Breckenridge and Heartland in this market. We are putting plans and resources in place to grow sales and market share in the segment in the upcoming quarters and become the No. 1 producer in Elkhart County of park models and destination trailers.”
Hermon added that Heartland, which is enjoying a record-setting year, has a successful track record for bringing product to market and quickly growing market share. “Our top priority is giving retail buyers the products they want and giving dealers the credible front- and back-end support they need. Our marketing and operational experience will be a perfect fit for Breckenridge.”
Hermon reported that plans are to roll out new products and programs as part of the Elkhart County RV Open House, set to occur in late September.
About Thor Industries, Inc.
Thor is the sole owner of operating subsidiaries that, combined, represent the world's largest manufacturer of recreation vehicles and a major builder of commercial buses. – See more at: http://ir.thorindustries.com/press-releases/press-release-details/2013/Heartland-Acquires-Park-Model-Business-Breckenridge/default.aspx#sthash.chLyKVRg.dpuf
Source: Thor Industries Inc.