Jayco Acquiring Open Range RV</div> <div id="content-area"> <div id="node-85060" class="node node clearfix node-type-news"> <div class="node-inner"> <div class="field-field-feature-image"> </div> <div class="feature_info"> <div class="node_submitted"> <div class="picture"><img class="imagecache imagecache-avatar" title="RV PRO Staff's picture" src="http://rv-pro.com/sites/default/files/imagecache/avatar/user_avatars/picture-1883.png" alt="RV PRO Staff's picture" width="64" height="64"/></div> <div class="author">By: RV PRO Staff</div> <div class="post_date">Monday, February 24, 2014</div> </div> <div class="field-field-feature-description">Jayco Corp. of Middlebury, Ind., has entered into a Letter of Intent to acquire Open Range RV based in Shipshewana, Ind.</div> </div> <div class="content">
Financial terms of the deal were not revealed.
Open Range RV will operate as a wholly owned and separate subsidiary with Randy Graber as president.
“The two companies are a natural match,” Graber said. “Culturally speaking, both Jayco and Open Range enjoy strong relationships with their dealer body recognizing the importance of maintaining a partnership style association.”
With growth in excess of 20 percent annually, the management of Open Range recognized in order to maintain and further increase that type of growth, it was necessary to partner with a larger organization.
“I am extremely excited to be able to take Open Range to the next level, it’s a dream come true.” Graber said.
“Open Range will be a perfect addition to the Jayco family,” said Derald Bontrager, Jayco’s president and CEO. “We are thrilled to partner with someone like Randy Graber who has such vast industry experience and innovative product knowledge.”
Jayco, based in Middlebury, is the largest privately-held manufacturer of RVs.</div> </div> </div> </div>