Deals
Airstream Parent Bets $2.5 Billion on RV Growth in Europe, China
- Hymer family receives 4% stake in fast-growing U.S. company
- Thor growing in the U.S. with smaller campers for millennials
This article is for subscribers only.
Thor Industries Inc. agreed to buy German motor-home builder Erwin Hymer Group in a cash and stock deal valued at 2.1 billion euros ($2.5 billion), the Airstream maker’s biggest acquisition ever and its first step outside North America.
The acquisition gives Thor a chance to grow along with European recreational vehicle markets that, in places like France and Germany, are already stronger than in the U.S., Chief Executive Officer Bob Martin said in an interview. Some of this growth will come through acquisitions of smaller European companies, and some will come as countries like Poland and Slovenia embrace RVs for the first time, he said.