Thor finalises Erwin Hymer Group acquisition

US RV firm, Thor Industries has completed the purchase of European motorhome manufacturer, Erwin Hymer Group (EHG). Following an announcement back in September, the deal was signed and closed on 1 February this year (2019). 

This deal makes Thor Industries the world's largest RV manufacturer.

The purchase excludes EHG's North American businesses that were part of the original €2.1 billion deal from September. See our previous news story. This reflects a €170 million reduction in the overall purchase price and a €180 million reduction in the obligations the company would have otherwise assumed under the terms of the original stock purchase agreements.

Bob Martin, Thor President and CEO said "Europe, the second largest market for RVs globally, is the most logical place to begin the next chapter of Thor’s growth. Having built relationships with the EHG management team over the course of several years, the opportunity to enter the European market with a European industry leader fits squarely within our strategic plan. EHG brings tremendous strengths in product development, technology and production efficiency that complement Thor’s historic strength in the North American market, making our combined company the undisputed global leader in the RV market.” 

Martin Brandt, CEO of Erwin Hymer Group commented, “The closing of the sale of EHG to Thor marks the beginning of the next phase in the growth of our business. We are excited to begin working together, learning from each other, enhancing our operations and ultimately providing a satisfying experience for our customers and their families.”

Christian Hymer, son of the late founder, Erwin Hymer, said, “In Thor, we found the ideal, long-term strategic owner of the great company that our father built. As shareholders, our family is fully committed to the long-term success of Thor and the Erwin Hymer Group.”