Tiffin Acquired by Thor for 300mil.
Wow so they all fall to the big boy fall out. Kinda sad to see all the owner brands fall to the big corporate groups. I see they got Van Leigh also. Guess Bob and family can finally retire.
Forum Discussion
dougrainer wrote:
Thor, like Berkshire/Hathaway, does NOT buy companies that are distressed or need help. They buy companies they feel are already run by good management. They do NOT replace senior people. Per the deal, Bob Tiffin and existing management will continue operating the company. Tiffin quality has gone down as Bob Tiffin, did not want to expand his work Force after the 2008 melt down. They are pushing out units as fast as they can with their existing work force and will pay the Dealers to fix problems they miss in Red Bay. Bob Tiffin regretted the amount of people he had to lay off from the 2008 melt down. When Thor purchase Jayco, NOTHING was done to change their people or management. Doug
6-7 years ago Berkshire/Hathaway bought a bunch of local family owned car dealerships. The original family had a 5 year deal where their name still was on the building and they still ran most of the day-to-day operations.
The deal has now expired and Berkshire/Hathaway recently sold the dealerships to a Megadealer - the big are getting bigger, competition is shrinking, the consumer is losing.
Many of the long term employees are also moving on.
I suspect the same will happen here.
