NOOOO! Thor buys Jayco
Just read that Thor has bought Jayco for $576 million. Wall Street Journal article at this address: http://www.wsj.com/articles/thor-industries-to-buy-jayco-for-576-million-1467375874 Jayco was t...
Forum Discussion
camperforlife wrote:
I was surprised when KZ sold to Thor and now Jayco. When these family companies hit the second and especially third generations money seems to out weigh family.
Depending upon how much planning for a multi-million dollar/ billion dollar business the first generation did when the company was young, turning over ownership to a third generation may be impossible. The capital gains taxes could leave the company with no working cash.
I would be very surprised if the federal government didn't end up with 25-30% of that 576 million.
It is very hard to transfer ownership of a non-public company to children/ grandchildren.
Another issue is the number of people involved. One company I saw go from a third generation involved to sold to a public traded company back in the early 90s - did so because the original two brothers, their seven children - the company didn't have appropriate roles available for the 23 grandchildren.
The number of people issue is normally more evident in small companies. A nice income for dad and his two sons, might be insufficient for them and six grandchildren families.
That's probably why Leigh Tiffin (Bob's grandson) is now heading up Vanleigh RV - a 5th wheel manufacturer.
