Tiffin Motorhomes, one of Alabama’s largest private companies, has been acquired by Indiana-based Thor Industries Inc. for $300 million.
Tiffin ranked 57 on Business Alabama magazine’s 2020 listing of Alabama private companies. The firm was founded by Bob Tiffin in Red Bay in 1972, and his sons and grandson also play key leadership roles.
The firm notched $800 million in RV sales in the fiscal year ending February 28, 2020.
Under terms of the deal, announced by Thor, the family members and executive team at Tiffin will continue to manage the brand.
“The Tiffin brand is synonymous with quality and customer satisfaction in our industry. For many decades, Tiffin has set the standard for the luxury class A market,” said Bob Martin, Thor president and CEO. “Its strong presence in the luxury class A segment makes it very complimentary to Thor’s current North American portfolio.”
Martin added that Bob Tiffin had contacted him about the possibility of an ownership change.
“As a family-owned business since 1972, finding the right partner for the future of the Tiffin Group of companies was crucial,” said Tiffin CEO Bob Tiffin. “The future of this group of companies is critical not just to the Tiffin family but to our employees, our dealers and our incredibly loyal customers.”
Tiffin’s best known products are the Allegro family of motorhomes. The Tiffin Group also includes Vanleigh RV in Mississippi, plus Alabama-based window maker Wynne Enterprises Inc., furniture maker Roma Enterprises Inc., door maker Tiffin Door Co. Inc., and Mississippi-based fiberglass supplier Water-Way Inc., plus Alabama-based RV transport firm Drive-A-Way of Red Bay Inc.