Elkhart-based RV maker acquires competitor for $300M

Elkhart-based Thor Industries Inc. said Monday it had bought family-owned Tiffin Motorhomes, the Alabama-based manufacturer of high-end recreational vehicles, in a deal worth $300 million.

Thor, which is publicly traded and describes its combined holdings as the world’s largest maker of RVs, said the Tiffin Group would operate as a stand-alone division of the corporation, and the Tiffin family will continue to run it.

Based in the northwest Alabama town of Red Bay, Tiffin Motorhomes reported $800 million in RV sales in fiscal 2020, about 90% of which were motorized RVs and 10% were towable campers.

With plants in Alabama and Mississippi, Tiffin produces bus-sized motorhomes the Allegro Breeze, Allegro Red 340, Allegro Red, Open Road Allegro, Phaeton, Allegro Bus and Zephyr models. The company also makes a smaller RV line, the Wayfarer, and fifth-wheel campers.

Thor’s corporate office is located in Elkhart, but its owns multiple manufacturers in Indiana and Ohio.