Elkhart, Indiana-based Thor Industries, Inc. announced that it acquired the assets of innovative recreational vehicle maker Livin’ Lite through a wholly-owned subsidiary.
“We are pleased to welcome Livin’ Lite to the Thor family of RV brands. Adding such a creative RV maker to Thor’s strong stable of brands will enable us to expand our industry-leading position in new product development into camping trailers and truck campers,” said Bob Martin, Thor President and Chief Executive Officer, in a news release.
“We see many opportunities for expanding Livin’ Lite’s market presence through the Thor dealer network, and the ability to leverage their lightweight aluminum and composite construction technology in other Thor products. This transaction represents a solid example of executing our strategic plan to grow our RV presence through the acquisition of brands and technologies that complement our existing business.”
Founded by former Heartland executive Scott Tuttle, Wakarusa, Indiana-based Livin’ Lite is known for its advanced lightweight aluminum construction applied to a variety of smaller RVs, including travel trailers, toy haulers, camping trailers, and truck campers. Livin’ Lite also markets its products in partnership with a number of leading consumer brands including Jeep. Having recently been named to Inc. magazine’s list of fastest growing companies for the third consecutive year, Livin’ Lite is expected to generate sales of approximately $24 million for calendar year 2013.
“We are excited to join forces with Thor, the leading company in the RV industry, and we are looking forward to the new growth opportunities we should see as a result,” said Scott Tuttle, President, CEO and founder of Livin’ Lite.
“We have worked diligently to grow Livin’ Lite over the past five years and expect to extend that growth as we bring the distribution, operational and financial strengths of Thor to bear on our business. As the newest company to join Thor, we also expect to add to our combined development efforts as we apply our proprietary technology to a broader array of existing product lines and bring our combined market strength to camping trailers and truck campers.”
Thor expects to offer Livin’ Lite’s current 35 models to its current dealer network upon closing of the transaction.
The Company expects Livin’ Lite will continue to operate out of its existing Wakarusa facilities with minimal disruption to its current business resulting from the acquisition.
Thor Industries, Inc.
Thor is the sole owner of operating subsidiaries that, combined, represent the world’s largest manufacturer of recreation vehicles and a major builder of commercial buses.
Thor has been driving for excellence since its founding in 1980.
Thor Industries, Inc. was founded on August 29, 1980, when Wade F. B. Thompson and Peter B. Orthwein acquired Airstream, the most recognized name in the industry. Despite its venerable image, Airstream had not fared well during the economic downturn of the late 1970s. By focusing on improving quality while reducing costs, Airstream returned to profitability in its very first year under the new Thor management.
Thor companies manufacturing recreational vehicles include Airstream, Crossroads RV, Redwood RV, Heartland RV, Keystone RV Company, Dutchmen Manufacturing, Breckenridge, and Thor Motor Coach.
Address: 601 East Beardsley Avenue, Elkhart, IN 46514-3305
Livin’ Lite Recreational Vehicles
Livin’ Lite Recreational Vehicles manufactures modern-looking lightweight all-aluminum camping trailers, travel trailers, truck campers, and utility trailers under three brands: Quicksilver automotive tent camper line, Camplite enclosed travel trailer line, and the VRV camping/cargo trailer line.
Because the campers are so lightweight, they can be towed by even the smallest cars.
Address: P.O. Box 528, Wakarusa, IN 46573
Phone: (574) 862-2228
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