THOR Industries Acquires KZ
Source – PR Newswire, April 17, 2014
THOR Industries, Inc. today announced that it has entered into an agreement to acquire the outstanding capital stock of recreational vehicle (RV) manufacturer KZ, Inc. (KZ) in a transaction closing effective May 1, 2014.
“We are pleased to welcome KZ to the Thor family. With a strong focus on value, service and quality, KZ brings an exceptional way of doing business that really stands apart in the RV industry,” said Bob Martin, THOR president and chief executive officer. “With an iconic and long-standing brand, KZ has built a successful business over the past 40 years, serving a diversified distribution network of more than 200 dealers that are strong business partners. At THOR, we recognize the success of KZ and want to see that continue as we support the management team in the next phase of their growth.”
Founded in 1972, Shipshewana, Indiana-based KZ is known for its innovative, high-quality travel trailers, fifth wheels and toy haulers. With strong brands such as Sportsmen, Spree and Durango, KZ produces a comprehensive selection of travel trailers, fifth wheels and toy haulers.
“Becoming a part of THOR allows us to continue to operate KZ with the core values and relationships that have made us successful since our founding,” said Daryl Zook, founder and chief executive officer of KZ. “We understand the importance of partnering with a local company that has strong roots in the RV industry and in our communities of northern Indiana. We share a strong commitment to product quality and excellent customer and dealer relationships that make THOR an ideal partner for KZ.”