Thor Buys Recreational Vehicle Manufacturer K-Z Inc. - Quick Facts

(RTTNews) - Recreational vehicle maker Thor Industries, Inc. (THO) has agreed to acquire the outstanding capital stock of recreational vehicle or RV manufacturer K-Z, Inc. in a transaction closing effective May 1, 2014. The consideration price, which would be paid in cash, totals about $53.4 million, subject to adjustment.

Thor's President and Chief Executive noted: "With an iconic and long-standing brand, K-Z has built a successful business over the past 40 years serving a diversified distribution network of more than 200 dealers that are strong business partners. At Thor, we recognize the success of K-Z and want to see that continue as we support the management team in the next phase of their growth."

Indiana-based K-Z is known for its innovative, high-quality travel trailers, fifth wheels and toy haulers. With strong brands like Sportsmen, Spree and Durango, K-Z produces a comprehensive selection of travel trailers, fifth wheels and toy haulers with retail price points as low as $10,000 for entry-level products.

K-Z generated sales of nearly $150 million for 2013, and Thor expects the acquisition to be accretive to earnings.