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-   -   Winnebago acquires Newmar.... (http://www.irv2.com/forums/f101/winnebago-acquires-newmar-461670.html)

Rmedad 09-16-2019 08:19 AM

Winnebago acquires Newmar....
 
https://www.globenewswire.com/news-r...er-Newmar.html

macnut 09-16-2019 08:53 AM

All I can say is WOW!!

creativepart 09-16-2019 09:02 AM

Now we know why Winnebago reversed course on the Junction City, Oregon factory and the attempt to move all DP production there.

macnut 09-16-2019 09:06 AM

Winnebago acquires Newmar....
 
One of the reasons Winnebago gave for backing out of Oregon was lack experienced quality workers in the area. I guess they have that now at the Newmar plants!

dmevis 09-20-2019 01:00 PM

Actually, Winnebago and Newmar are my 2 favorite brands of RV's. The newer Winnebago's are so UGLY I haven't even considered one. Hopefully, this will be good for customers.

Coffie Drink 09-21-2019 01:27 PM

Donít buy a DP from Winnebago, I would not buy any class A from Winnebago. Winnebago has moved away from a range of DP. Newmar has a range of DP, A, and SuperC. Winnebago will kill the Forza , the Horizon is dead. Class A use to have the Adventure as a top line A, the current line is many steps down.
Winnebago has the View, Newmar does not have a Sprinter class. I think this deal was in the works for a number of years.
If you are looking for a coach, be careful. Tiffin May have hoped to be acquired, the market is slowing.

SuperGewl 09-23-2019 11:58 PM

Interesting comment from Coffie Drink. But they still own a Winnebago :blink:
There are some other interesting comments also. As far as I can see, yes Winnebago seems to be letting go of what I call a very important class of people. They seem to have killed off their low end model gas units and brought back the High end name Adventure but attached it to the low end Vista and Sunstar models. Not a smart thing in my opinion. Right now Winnebago has 2 DP's the Horizon with only 2 models (not impressed) and the entry level Forza which has potential but misses the common sense mark with the 38D, F, and W. All three of these will sleep at least 8 only feed 4 at a time and only tow 5klbs or less which means a large family has to take a toad and another vehicle or have someone drive a vehicle large enough to carry the whole family. They had an earlier version that would at least feed 6 at a time but dropped that version. They also need to upgrade these 3 to at least offer Allison 3000 transmission and the 360hp Cummins so they can actually tow 10klbs and not just add a 10klbs hitch.
So back to the acquisition of Newmar, They charge a lot for their MH's but I don't think they are worth what they want for them. I think Winnebago had a better quality feel than the Newmar.
The Horizon floor plans and interior are lacking. I think they are caving in to the 30 something crowd and forgetting about the more mature crowd with the old world money.
Winnebago needs to get back to building 1 or 2 levels of gas MH on par with the ones they used to build.

Coffie Drink 09-24-2019 10:32 PM

Winnebago may IMHO drop DP and Class A gas. They are pushing Sprinters with the current View at near 170k with FBP. The F53 will need an upgrade due to a new Ford V8 and transmision. Will they sell it or use Bay Star? I will bet the Horizon, is dead. They would need to move production from OR, did they?
I think the buyout was years in the making, get rid of competitive units, Newmar is the only large coach builder who did not have a Sprinter, or C/B. Now they have a SuperC. Winnebago did not get into that segment.
Winnebago will sell C and B, maybe low end A. As the brand is reduced, Newmar will have the DP, A and SuperC. This deal should make buyers and dealers pause.

palehorse89 09-24-2019 10:39 PM

Blah Blah.......Blah its over, done deal......lets move on people.........

edgray 09-25-2019 10:16 AM

Quote:

Originally Posted by palehorse89 (Post 4970746)
Blah Blah.......Blah its over, done deal......lets move on people.........

Sorry, but it is not a "done deal". At this point there is a signed letter of intent and the announcement.
WGO has not yet BORROWED the cash it needs to make this acquisition happen. OBTW, the "experts" are not too happy about the issuance of more debt and will likely downgrade WGO rating because of it.


The following is a press release from S&P Global Ratings:


""NEW YORK (S&P Global Ratings) Sept. 17, 2019-S&P Global Ratings today took the

rating actions listed above. The negative CreditWatch placement on the senior

secured issue-level rating reflects the mix of debt and equity that Winnebago

is expected to use for the acquisition, and our expectation that the

leveraging acquisition will result in more secured debt in the capital

structure and potentially reduce recovery prospects for secured lenders.
It is

our understanding that Winnebago will raise about $270 million of senior

secured debt and issue two million shares of equity to purchase Newmar for a

purchase price of approximately $344 million, based on the closing stock price

on September 13, 2019. Winnebago also plans to upsize its asset-based revolver

capacity to $192 million from $165 million, which would increase priority

claims ahead of senior secured debt.............""

baraff 09-25-2019 06:40 PM

Quote:

Originally Posted by SuperGewl (Post 4969520)
I think they are caving in to the 30 something crowd and forgetting about the more mature crowd with the old world money.
Winnebago needs to get back to building 1 or 2 levels of gas MH on par with the ones they used to build.

Yeah but the "30 something crowd" will inherit the "mature crowd old world money", so Winnebago may not be as clueless as you think.

Ray,IN 09-29-2019 10:12 PM

Quote:

Originally Posted by palehorse89 (Post 4970746)
Blah Blah.......Blah its over, done deal......lets move on people.........

Not a done deal yet, at least until the 1 qtr of 2020. https://www.southbendtribune.com/new...5e4b2b7b5.html


Also read: https://finance.yahoo.com/news/winne...113000321.html


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