Wednesday, October 18, 2017
Breaking News
Home » RV Industry News » Winnebago completes acquisition of Grand Design

Winnebago completes acquisition of Grand Design

Winnebago completes acquisition of Grand Design

FOREST CITY, Iowa — Winnebago Industries announced that it has completed the previously announced acquisition of Grand Design RV (“Grand Design”) for approximately $500 million in cash and Winnebago shares.

The company also entered into a seven-year $300 million term loan and five-year asset based lending facility for up to $125 million arranged by JPMorgan Chase Bank, N.A.

“We are pleased to complete this transformative transaction. The acquisition of Grand Design positions Winnebago Industries as an immediately stronger player in the RV market and will provide long-term value for our shareholders,” said Michael Happe, Winnebago’s president and CEO. “We are excited to welcome Grand Design into our portfolio and look forward to working with their talented team to exceed the expectations of our collective dealers and end customers.”

J.P. Morgan acted as financial advisor to Winnebago and Lindquist & Vennum LLP acted as legal counsel.  Baird acted as financial advisor to Grand Design and Weil Gotshal & Manges LLP acted as legal counsel.

SOURCE: Winnebago press release

Print Friendly, PDF & Email


About Darian Armer

Darian Armer is the assistant editor for RV Daily Report. She lives in Billings, Montana, where she enjoys spending time with her husband and three stepchildren. Introduced to the RV industry in 2012, she is happy to be writing for one of the greatest industries around.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

RV Daily Report welcomes comments from readers. However, we expect that comments will be cordial and professional without reverting to name-calling, profanity and libelous language. Comments of that nature will be removed.