logo
Plus   Neg
Share
Email

Thor To Acquire Erwin Hymer Group - Quick Facts

Thor Industries, Inc. (THO) and the shareholders of Erwin Hymer Group SE announced a definitive agreement for Thor to acquire Erwin Hymer Group for an enterprise value of approximately 2.1 billion euros. Equity consideration will consist of approximately 2.3 million shares of Thor.

Thor expects the transaction to be accretive to earnings in the first year, before taking into account anticipated synergies, purchase accounting adjustments and transaction-related expenses. Subsequent to closing, Thor intends to repurchase shares both opportunistically and systematically in order to offset the issuance of shares to the Hymer family.

Headquartered in Bad Waldsee, Germany, Erwin Hymer Group is one of the premier manufacturers of recreational vehicles in the European market. Martin Brandt will continue to lead the Erwin Hymer Group business post-closing as its CEO.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Coffee giant Starbucks Corp. unveiled its sixth and the world's largest Starbucks Reserve Roastery on Chicago's Magnificent Mile, featuring Starbucks Reserve specialty coffee menu, boutique Milanese Princi bakery, and Arriviamo Bar for coffee cocktails. It will throw open the iconic five-storey glass-clad building in 35,000 square feet space, employing about 200 people, to the public on Friday. Retail giant Walmart Inc. reported Thursday a profit for the third quarter that more than doubled from last year, reflecting higher revenues and strength at Walmart U.S. and International. Adjusted earnings per share topped analysts' expectations, while revenues missed it. The company also raised its adjusted earnings outlook for the full-year 2020. German science and technology company Merck KGaA reported Thursday a slight increase in third-quarter profit, despite good growth in sales. The company further lifted its fiscal 2019 earnings and sales view following the closing of the Versum Materials acquisition. Shares of Merck were losing around 2 percent in the morning trading in Germany.
RELATED NEWS
Follow RTT
>