Coachmen Industries RV Group is being sold to Forest River.
The Middlebury-based company made the announcement Friday morning.
Forest River will acquire most of the assets of Coachmen’s RV business, including the brands, product lines, central manufacturing operations in Middlebury and the dealership in Elkhart.
Also, Forest River has agreed to offer continued employment to almost 85 percent of Coachmen’s RV Group employees in Indiana.
Richard Lavers, chief executive officer of Coachmen Industries, stated in a release that Coachmen will emerge as a system-built housing company. In addition the ARBOC Mobility bus previously unveiled this year will remain with Coachmen Industries.
“Our headquarters will remain in the Middlebury/Elkhart area,” Lavers stated. “We will be financially sound with sufficient cash liquidity to not just survive but to build our profitable housing businesses and continue our diversification into the bus and specialty vehicle transportation industries.”
The companies have not disclosed the terms of the sale. Shareholders must approve the transaction. A meeting for them is being planned for next month.