Winnebago makes deal with Grand Design
Posted: Oct 3, 2016 9:44 PM EDT
Winnebago industries have announced that it has acquired Grand Design Recreational Vehicle Company on Monday.
Grand Design was bought for $500 million in cash and newly issued Winnebago shares.
The Middleberry company used to be competitors with Grand Design until this new deal.
Each side is excited for the future.
“Winnebago is an iconic brand, one of the most well-known brands in our industry and has been for and it’s stood up against the test of time. We are very excited for what the two companies can do for one another,” said Don Clark, president, CEO, and co-owner of Grand Design.
Grand Design will continue under their own name as a distinct unit of Winnebago.