Thor Seeks to Exclude NA in Hymer Buyout

[Chance]

This news is interesting, even though I’m not sure exactly what it means.


https://www.rvbusiness.com/blog/Thor...HG-Buyout.html


It’s not clear to me if Thor will not bring Hymer to North America, or if they are trying to exclude the manufacturing that EHG purchased as part of Roadtrek acquisition.

Will we see Hymer as a Thor brand in North America?

Will Roadtrek remain part of Hymer for now?

What will happen to part of EHG that’s excluded?

[The Gritz Carlton]

It sounds like the purchase changes being negotiated include "exclusion of EHG's NA operation" (as if one existed). Does EHG currently have an operation in NA? If not, this sounds like any future plans to move here wold be eliminated....confusing!?!?

[saddlesore]

Hmmmm....
I believe that Thor is excluding the Canadian (NA) arm of the Hymer Group due to pending fraud/embezzlement investigations of the Canucks management team ..

I suspect that Thor only wants the European manufacturing & market, and the Canadian portion will be on their own... whether they survive is the big question..

[The Gritz Carlton]

Which would lead to the opportunity of Thor to expand the European market into the U.S. only if they choose that option later, excluding Canada? That would be a smart move!

[Chance]

Originally Posted by The Gritz Carlton

It sounds like the purchase changes being negotiated include "exclusion of EHG's NA operation" (as if one existed). Does EHG currently have an operation in NA? If not, this sounds like any future plans to move here wold be eliminated....confusing!?!?

Yes, currently Roadtrek and Hymer van campers, and also light weight trailers and other stuff in minor volume. Mostly it’s Class Bs.

Class B sales are growing faster than any other motorhome class, and EHG is very large (second behind Winnebago). Still, in Class Bs they have a much larger presence than Thor.

What would happen to Hymer vans sold presently in NA? If Thor doesn’t import Hymer to NA that wouldn’t be as big an issue, but if Thor imports Hymer Class As to NA, I’m sure they wouldn’t want to share Hymer brand, or compete against it.

It would not surprise me if the entire deal falls apart. Thor may be looking for a way out due to their recent stock prices. Just a guess.

[Bob Denman]

Hymer bought Roadtrek... Perhaps they'll just expand upon Roadtrek's presence in the marketplace?

[Chance]

Additional information that may be of interest. Seems Thor expect closing deal prior to April 30. Still no mention of what will happen to Roadtrek or present Hymer in North America.


https://www.therecord.com/news-story...ocal-rv-maker/

Originally Posted by Article

Indiana-based Thor Industries, meanwhile, has announced that it has received all of the required regulatory approvals for its purchase of Erwin Hymer Group, minus the North American subsidiary. Thor expects the deal will close in the financial quarter ending April 30.

In its release, Thor Industries suggested that the exclusion of the North American operation won't have a significant impact on its plans.

"The combination of Thor and EHG will create the world's largest RV manufacturer, with leading positions in both North America and Europe. EHG's European operations, which represent the vast majority and core of EHG's operations, were and are the driving strategic rationale for the acquisition."

[Chance]

Thor now owns Hymer. This acquisition deserves close observation in my opinion since it’s very different than most others.


https://www.rvbusiness.com/blog/thor...mer-group.html


I still see no mention on what will happen to NA part of Hymer.

[Chance]

Now we know — about 900 people out of work.

Also hard to believe the Roadtrek brand could disappear.


https://www.thestar.com/business/201...ses-doors.html

[Bob Denman]

Well; that is a damn shame!

[Chance]

I’d like to see some investor group buy the Roadtrek brand, the factory, and go back to building “Roadtrek” Class Bs under new management without Hymer or Thor involvement. The Roadtrek brand has a very loyal following.

They seem to have been struggling before Hymer bought them, so any comeback is unlikely. I hope to be wrong for sake of some of the employees who could get their jobs back.

[Bob Denman]

After you get your investors lined up: I hope that you make a Billion dollars!

[Chance]

It appears the Roadtrek brand “may” survive after all. Thor now owns Hymer which includes other brands (Hymer, Carado, Sunlight), but the Roadtrek brand appears to have been solely part of the North American business which was excluded from the Thor acquisition.


https://www.therecord.com/news-story...ed-next-month/

https://www.therecord.com/news-story...rge-for-brand/


If Roadtrek survives and becomes a Class B manufacturer again, it will be much smaller since much of its growth was due to Hymer. That may be good though, because some of the best and most innovative Class Bs come from small manufacturers.

[Bob Denman]

Let's all keep our fingers crossed; and hope for the best!

[Chance]

It’d be great if at least a couple hundred workers out of the ~ 900 or so get their jobs back.

If new owners selectively bring back the best and most experienced workers, it’s possible that future Roadtrek motorhomes could actually have higher quality than before. Let’s hope.

Also, if deal is approved, it’ll be interesting to see if Roadtrek and Hymer brands end up competing directly in the Class B segment. The van that Thor displayed at RVX, built on an extended ProMaster, looked very much like a Hymer product to me.

[Chance]

“Rapido SAS Signs Binding Letter of Intent to Acquire Roadtrek RV Brand”

https://www.newswire.ca/news-release...892976105.html

Turns out Rápido owns Westfalia brand that so many of us recall being associated with classic VW campers.

Let’s hope they can save the Roadtrek brand as well as bring additional European Class B designs to North America.