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Bob Martin shares thoughts on EHG acquisition in webcast

ELKHART, Ind. — Earlier today, Thor Industries announced that it had entered into a definitive agreement to acquire the Erwin Hymer Group, a Germany-based private company, in a cash-and-stock deal valued at approximately $2.2 billion.  The equity consideration will consist of approximately 2.3 million shares of Thor.

“The combination creates the world’s largest global RV manufacturer with No. 1 market share in North America and Europe, and establishes a global sales and production footprint for our company,” reported Bob Martin, president and CEO of Thor Industries.

He added, “This announcement demonstrates our commitment to a strategic and financially compelling transaction that is an important step and our journey to become the world’s premier RV manufacturing company. Upon closing, we will become the No. 1 manufacturer in North America and the No. 1 manufacturer in Europe with total fiscal 2018 revenues of approximately $11 billion.”

Martin noted that for stakeholders the acquisition will afford Thord an entry into the €6 billion plus in growing European RV market with a leadership position. He added, “This further enables us to go-to-market with a company that has 60 plus year track record of excellence within the RV industry, represented by outstanding brands that are synonymous with innovation and quality. The Erwin Hymer Group provides a complementary product line up that spans across multiple price points categories in a support by a strong dealer network. We believe the combined companies will be able to drive significant mutual benefits from design, research and development, technology and engineering, manufacturing excellence and further creates a global platform that will generate significant free cash flow and provides extensive synergy opportunities.”

With more than 25 years in the industry, Martin added that he’s long been an admirer of Erwin Hymer Group. He noted he has been “keenly aware of how successfully they compete in the European markets with an outstanding record of innovation, product development and overall operating excellence.”

Impressed with the company’s long history, its management team and the legacy created by Erwin Hymer and the Hymer family, Martin stated “There is a strong alignment and cultural fit between the two organizations, as a result of both of the similarities of our histories and our vision of the future of the RV Industry. Both of us placed a tremendous amount of importance on our relationships with our employees, dealer network and supplier channel.”

SOURCE: Thor Industries webcast

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About Ronnie Wendt

Ronnie Wendt is the editor in chief of RV Daily Report. She's been a writer/editor for more than 25 years, working in law enforcement, aviation, supply chain and now the RV industry. She's not a stranger to RVs, however. She grew up camping, and still camps as many weekends as she can every year.

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