Business

Ownership change for Elkhart County RV maker Newmar Corporation

ELKHART COUNTY (Inside INdiana Business) — Nappanee-based recreational vehicle manufacturer Newmar Corp. is now under new ownership. Winnebago Industries Inc. (NYSE: WGO), an Iowa-based RV maker, has completed the acquisition in a deal valued at $270 million in cash plus two million shares of Winnebago common stock.

The deal was first announced in September.

“The acquisition of Newmar further strengthens our core RV Platform and enhances the scale and profitability of our overall motorhome business,” said Winnebago Industries President and Chief Executive Officer Michael Happe.

Winnebago already has a plant in Elkhart County. It opened its Winnebago Towables facility in Middlebury in 2015 and broke ground on a major expansion of the plant in 2018.

In 2016, Winnebago purchased Grand Design RV Co., also in Middlebury, for $500 million in cash and shares.

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