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Tiffin Motorhomes sells for $300 million
Posted on 12/22/20 at 5:15 pm
Posted on 12/22/20 at 5:15 pm
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Thor Industries CEO Bob Martin on Monday told CNBC that the company is looking to develop new products and expand its business after purchasing Tiffin Motorhomes in a $300 million deal.
The acquisition gives Thor, a recreational vehicle maker based in Indiana, a manufacturer of high-end motorhomes based in Alabama that brought in $800 million in RV sales in the 2020 fiscal year.
“We’re always an opportunistic buyer, and Tiffin is one of these companies that’s 48 years old, has an incredible brand, a great selection of products, but actually a selection of products that have yet to come that we think we can help them develop,” Martin said in a “Mad Money” interview.
Tiffin, a family-owned enterprise, will continue to headed by the family and retain its name as an entity under Thor. The company produces multiple motorhomes, including Allegro Breeze, Allegro Red, Allegro Bus and Zephyr among other products.
“Tiffin is one of those premium brands that when Mr. Tiffin called, we definitely had to talk, no matter what,” Martin said.
Thor Industries CEO Bob Martin on Monday told CNBC that the company is looking to develop new products and expand its business after purchasing Tiffin Motorhomes in a $300 million deal.
The acquisition gives Thor, a recreational vehicle maker based in Indiana, a manufacturer of high-end motorhomes based in Alabama that brought in $800 million in RV sales in the 2020 fiscal year.
“We’re always an opportunistic buyer, and Tiffin is one of these companies that’s 48 years old, has an incredible brand, a great selection of products, but actually a selection of products that have yet to come that we think we can help them develop,” Martin said in a “Mad Money” interview.
Tiffin, a family-owned enterprise, will continue to headed by the family and retain its name as an entity under Thor. The company produces multiple motorhomes, including Allegro Breeze, Allegro Red, Allegro Bus and Zephyr among other products.
“Tiffin is one of those premium brands that when Mr. Tiffin called, we definitely had to talk, no matter what,” Martin said.
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Posted on 12/22/20 at 5:26 pm to Crimson Wraith
What's the significance of this? What does Tiffin do for UA?
Posted on 12/22/20 at 5:30 pm to imjustafatkid
Well, I thought it would be interesting to most. They used to advertise on The Nick Saban Show and some Tide radio stuff, maybe they still do.
Don't think they do anything for UAB though.
Don't think they do anything for UAB though.
Posted on 12/22/20 at 5:40 pm to Crimson Wraith
quote:
Well, I thought it would be interesting to most. They used to advertise on The Nick Saban Show and some Tide radio stuff, maybe they still do.
That makes sense. I don't listen to the radio stuff.
quote:
Don't think they do anything for UAB though.
I wouldn't know.
This post was edited on 12/22/20 at 5:41 pm
Posted on 12/22/20 at 6:02 pm to Crimson Wraith
Thanks for posting this. I found it interesting and post worthy. I saw that they had sold it the other day, but was curious as to how much.
Posted on 12/22/20 at 6:07 pm to Crimson Wraith
This is bad for their product, unless they retain full control. Everything Thor touches is absolute shite.
Posted on 12/22/20 at 8:30 pm to Crimson Wraith
That is one nice cash out! Congrats to the Tiffin family
Posted on 12/22/20 at 8:58 pm to Crimson Wraith
I always liked when Alabama came to Baton Rouge, old man Tiffin would walk around speaking to owners of Tiffin RV. If someone had an issue he would provide them right there the name and number who to call in Red Bay. He took care of the customer.
Posted on 12/22/20 at 9:02 pm to imjustafatkid
quote:
What's the significance of this? What does Tiffin do for UA?
He's a sponsor you see on the ribbon boards in the stadium.
Posted on 12/22/20 at 9:22 pm to BamaGradinTn
It's also the Tiffin family company. As in Van Tiffin's dad and Leigh Tiffin's grandfather.
This post was edited on 12/22/20 at 9:24 pm
Posted on 12/22/20 at 9:54 pm to DLev45
quote:
It's also the Tiffin family company. As in Van Tiffin's dad and Leigh Tiffin's grandfather.
That's cool. They need to raise another Bama kicker so we can keep going with success after Reichard graduates.
Posted on 12/22/20 at 9:58 pm to BamaGradinTn
quote:
He's a sponsor you see on the ribbon boards in the stadium.
Hadn't noticed that. I can honestly say I hardly ever notice ads in stadiums unless they're gaudy. I'm not sure I could name any Bama football sponsors off hand.
Well, except Tiffin Motorhomes. I now know they are a sponsor.
This post was edited on 12/22/20 at 9:58 pm
Posted on 12/23/20 at 6:40 am to stomp
quote:
Congrats to the Tiffin family
They’re good people, top to bottom. Happy for them.
Posted on 12/23/20 at 9:29 am to imjustafatkid
This post was edited on 12/27/20 at 5:41 am
Posted on 12/23/20 at 9:32 am to DLev45
quote:
It's also the Tiffin family company. As in Van Tiffin's dad and Leigh Tiffin's grandfather.
They recently launched a line of high end towables (fifth wheel). Leigh is the COO of that sub. It's called Vanleigh.
Posted on 12/24/20 at 1:45 am to Evolved Simian
Fifth wheels are the way to go if anyone care for my opinion. Front living fifth wheels are extremely nice
Posted on 12/24/20 at 8:08 pm to imjustafatkid
quote:
It's also the Tiffin family company. As in Van Tiffin's dad and Leigh Tiffin's grandfather.
Bamas 1st family of kicking. Van hit “The Kick” in the Iron Bowl.
Posted on 12/26/20 at 11:51 am to VaBamaMan
quote:
This is bad for their product, unless they retain full control. Everything Thor touches is absolute shite.
Yep. Even more glad we sold ours this summer
Posted on 12/26/20 at 8:10 pm to imjustafatkid
Two of the most memorable kickers in Alabama history are tiffins. Van, and his son Lee. Van made a game winning kick against Auburn in the 80’s, lee played in the 2000’s if I’m not mistaken.
Posted on 12/26/20 at 8:14 pm to Kk74
quote:
Lee
*Leigh. Kicked from 2006-2009.
This post was edited on 12/26/20 at 8:15 pm
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