TWIN FALLS — Day-to-day operations at the Twin Falls Jayco plant aren’t likely to change much following the company’s $576 million to Thor Industries, company officials say.
Jayco, which offers travel trailers, folding camping trailers, higher-end diesel Class A motorhomes and larger Class C motorhomes, will be a wholly owned subsidiary of Thor, another recreational-vehicle giant, and Jayco’s existing senior management team will continue to lead the business.
Subsidiaries Jayco, Starcraft RV, Highland Ridge and Entegra Coach, operate in 31 facilities, which include 17 production lines covering 2.2 million square feet of production space, primarily in Indiana with additional facilities in Twin Falls.
The purchase agreement was executed and effective on June 30.
Bish’s RV is the only Jayco dealer in the Magic Valley, said spokeswoman Megan Walker.
“At this point, Jayco has come out and told us nothing is going to change in the day-to-day operations,” she said.
While the sale of the company came as a shock, Walker said her business is taking it day by day, with 222 Jayco units accounting for 40-45 percent of its inventory on average between four stores.
“Jayco has been a great company for us,” Walker said.
Brockman’s RV, which Bish’s RV purchased earlier this year, was a Jayco-only dealer, but later merged with the Bish’s location at Curry Crossing in Twin Falls.
Thor announced it will operate Jayco as an independent company as it does with its other subsidiaries.
“Most importantly, within this structure, our current leadership team will continue to manage Jayco, just as we have been running it since our founding,” Jayco President and CEO Derald Bontrager said.
Bob Martin, Thor president and CEO, said in a statement that he has admired Jayco for more than 20 years.
“We value the longstanding success of Jayco and are committed to providing the Bontrager family, and their team of dedicated employees the resources they need to continue the success they have built at Jayco over the past half century,” he said.
Wilbur Bontrager, chairman of the board of Jayco welcomed the opportunity to continue growing the business while” joining an even larger family.”
Jayco generated income before tax of approximately $70 million on revenue of approximately $1.5 billion in calendar year 2015.
“Throughout our history, Thor has endeavored to buy successful companies with strong management teams that can benefit from Thor’s financial strength and resources in order to drive future growth,” Peter B. Orthwein, Thor executive chairman, said.