PERTH, Australia — Listed motorhome group Apollo Tourism & Leisure has steered west for its latest acquisition, splashing out $1 million to scoop up brands owned by Perth-based Fleetwood Corporation.
While this is the latest in a string of major deals secured since the company listed on the ASX in 2016, the company today warned that FY18 earnings will be at the lower end of expectations.
Apollo Tourism, headed by Brisbane brothers Luke and Karl Trouchet, has struck a binding agreement for the purchase of Fleetwood RV, Coromal and Windsor from Fleetwood Corporation which has been bleeding red ink from its RV business.
Fleetwood indicated in May that its losses could run as high as $7 million for the current half year.
Read the full article at Business News Aus.