Baird Upgrades Winnebago Industries (WGO) to Outperform
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October 4, 2016 8:45 AM EDT
BMO Capital reiterated an Outperform rating on Winnebago Industries (NYSE: WGO), and raised the price target to $33.00 (from $27.00), following the company's announced acquisition of Grand Design for $500 million. This deal brings makes company the third-largest towable RV manufacturer in the world, up from eighth in CY2015.... More
October 3, 2016 7:30 AM EDT
Winnebago Industries, Inc. (NYSE: WGO) announced that it has entered into a definitive agreement to acquire Grand Design Recreational Vehicle Company ("Grand Design"), a manufacturer of towable recreation vehicles (RVs), for approximately $500 million in cash and newly issued Winnebago shares.
Founded in 2012 by Don Clark, Ron Fenech and Bill Fenech, a management team with over 80 years of combined leadership experience in the RV industry, Grand Design is a fast-growing manufacturer in the towables segment with rapidly expanding market share. The Company generated $428 million in revenue over the last twelve months ending August of... More
