Middlebury, Indiana-based Jayco Corp. announces that it has entered into a Letter of Intent (LOI) to acquire Shipshewana, Indiana-based Open Range RV Co.
The letter of intent contemplates a transaction between the two companies and is subject to the execution of a definitive agreement between the two parties.
Open Range RV will operate as a wholly owned and separate subsidiary while Randy Graber will remain president.
“The two companies are a natural match,” said Graber.
“Culturally speaking, both Jayco and Open Range enjoy strong relationships with their dealer body, recognizing the importance of maintaining a partnership style association.”
With growth in excess of 20 percent annually, the management of Open Range recognized in order to maintain and further increase that type of growth, it was necessary to partner with a larger organization.
“I am extremely excited to be able to take Open Range to the next level, it’s a dream come true.” said Graber.
“Open Range will be a perfect addition to the Jayco family,” said Derald Bontrager, Jayco President and CEO.
“We are thrilled to partner with someone like Randy Graber who has such vast industry experience and innovative product knowledge.”
Looking back over the years since the formation of Open Range RV, the company has experienced explosive growth.
From the time of the founding of the plant in 2007, with just three employees, the plant has grown year over year at least 10.5 percent per year, with the best year-to-year adjusted growth average being an increase of nearly 109 percent from 2009 to 2010.
The total growth for 2012 over 2011 was 17.3 percent.
Open Range RV Company, founded in Shipshewana in 2007, has quickly grown to become a leader in the production of high quality fifth wheels and travel trailers, and has been recognized with multiple “Quality Circle Awards” by the RV Dealers Association.
Open Range RV lines are recognized industry wide for their quality, innovative floor designs, amenities, and low weight amongst many other features.
The company manufactures and markets RVs under the Jay Series, Select, Baja, Jay Feather, White Hawk, Jay Flight, Jay Smart, Skylark, Eagle, Pinnacle, Seismic, Octane ZX, Recon ZX, Greyhawk, Melbourne, Seneca, Embark, and Precept brand names.
Factory tours are conducted Monday through Thursday at 12 noon. Tours of the motorized facilities are offered by appointment only.
Address: 903 S. Main, Middlebury, Indiana 46540
Phone: (800) RV-JAYCO
Open Range RV Company
Open Range RV Company, based in Shipshewana, Indiana, is quickly becoming a leader in the production of high quality fifth wheels and travel trailers in just their third year of production. Open Range RV’s quality and craftsmanship was recognized with the coveted RVDA “Quality Circle Award” in 2009.
Open Range travel trailers and fifth wheel trailers product lines include Light, Mesa Ridge, Roamer, Journeyer, Open Range, and Residential.
Address: 3195 N. S.R. 5, Shipshewana, IN 46565
Phone: (260) 768-7771
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