Winnebago Industries Inc. has announced that it has entered into an agreement to acquire Grand Design Recreational Vehicle Company, a manufacturer of towable RVs, for approximately $500 million in cash and newly issued Winnebago shares.
Founded in 2012, Grand Design is an up-and-coming manufacturer in the towable segment. The company generated $428 million in revenue over the last 12 months ending August of 2016, representing a compound annual growth rate of more than 80 percent since 2013. The transaction is expected to close by the end of Winnebago’s first fiscal quarter of 2017, subject to regulatory approvals and other closing conditions.
Winnebago Industries Inc. | 641-585-6966 | www.winnebagoind.com
