Ownership Change for RV Maker Newmar Corp
NAPPANEE - Nappanee-based recreational vehicle manufacturer Newmar Corp. is now under new ownership. Winnebago Industries Inc. (NYSE: WGO), an Iowa-based RV maker, has completed the acquisition in a deal valued at $270 million.
The deal, first announced in September, also includes two million shares of Winnebago common stock
“The acquisition of Newmar further strengthens our core RV Platform and enhances the scale and profitability of our overall motorhome business,” said Winnebago Industries President and Chief Executive Officer Michael Happe.
Winnebago already has a plant in Elkhart County. It opened its Winnebago Towables facility in Middlebury in 2015 and broke ground on a major expansion of the plant in 2018.
In 2016, Winnebago purchased Grand Design RV Co., also in Middlebury, for $500 million in cash and shares.