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#16735 - 02/24/14 03:03 PM Jayco RV to Acquire Tow-able RV Maker Open Range RV
Lerch RV Offline
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Registered: 09/09/09
Posts: 1964
Loc: Milroy, PA
Quote:
Jayco Corp. announced today (Feb. 24) that it has entered into a Letter of Intent (LOI) to acquire Shipshewana, Ind.-based Open Range RV Co.
According to a press release, 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 as 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% 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.
Derald Bontrager, president and CEO of Middlebury-based Jayco, noted, “Open Range will be a perfect addition to the Jayco family. We are thrilled to partner with someone like Randy Graber who has such vast industry experience and innovative product knowledge.”
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#16744 - 02/25/14 07:35 PM Re: Jayco RV to Acquire Tow-able RV Maker Open Range RV [Re: Lerch RV]
pyromug Offline
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Registered: 10/16/10
Posts: 181
Loc: Everett, PA
Hmmm...is this a good thing? Always was struck by the innovation of OR...hope being part of a bigger company they don't lose that...

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#16745 - 02/25/14 08:31 PM Re: Jayco RV to Acquire Tow-able RV Maker Open Range RV [Re: pyromug]
mikhen Offline

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Registered: 08/30/10
Posts: 1796
Loc: Oley, Berks County, Pa
Originally Posted By: pyromug
Hmmm...is this a good thing? Always was struck by the innovation of OR...hope being part of a bigger company they don't lose that...


Good question. Seems like they will be operating as a seperate entity, with the same parent company. Jayco puts out a good product, so this probably won't be a bad thing for either company. Let's hope anyway.
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#16747 - 02/26/14 06:37 AM Re: Jayco RV to Acquire Tow-able RV Maker Open Range RV [Re: Lerch RV]
rich Offline

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Registered: 09/23/09
Posts: 403
Loc: birdsboro,pa.
hopefully it works out for the better for both companies
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