NAPPANEE — Newmar Corp. a manufacturer of class A and class C motorhomes based in Nappanee, is set to be acquired by Winnebago Industries in a deal worth about $344 million.
The sale was announced Monday in a press release that stated Winnebago, based in Eden Prairie, Minn., “has entered into a definitive agreement to acquire Newmar Corp.
“Newmar’s dedication to manufacturing premium, high-end motorhomes makes it a natural fit with our portfolio of leading outdoor lifestyle brands,” said Michael Happe, president and CEO of Winnebago Industries. “… Newmar has generated significant growth and tremendous market momentum over the past several years, driven by their reputation for quality, innovative offering and strong relationships with dealers and customers.”
The sale is expected to close in the first fiscal quarter of 2020 and is subject to regulatory approvals and other closing conditions. The planned sale consists of $270 million in cash and a fixed amount of 2 million shares of Winnebago Industries stock, according to the news release.
Copyright © 2024, South Bend Tribune