Thor Industries acquires Tiffin Motorhomes in $300M deal
RED BAY, Ala. (AP) — Indiana-based Thor Industries Inc. said Monday it had bought family-owned Tiffin Motorhomes, the Alabama-based manufacturer of high-end recreational vehicles, in a deal worth $300 million.
Thor, which is publicly traded and describes its combined holdings as the world’s largest maker of RVs, said the Tiffin Group would operate as a stand-alone division of the corporation, and the Tiffin family will continue to run it.
Based in the northwest Alabama town of Red Bay, Tiffin Motorhomes reported $800 million in RV sales in fiscal 2020, about 90% of which were motorized RVs and 10% were towable campers.
With plants in Alabama and Mississippi, Tiffin produces bus-sized motorhomes the Allegro Breeze, Allegro Red 340, Allegro Red, Open Road Allegro, Phaeton, Allegro Bus and Zephyr models. The company also makes a smaller RV line, the Wayfarer, and fifth-wheel campers.
Thor’s corporate office is located in Elkhart, but its owns multiple manufacturers in Indiana and Ohio.