It looks like the Roadtrek recreational vehicle brand will be rescued from receivership.
Rapido SAS, a French company that produces the Westfalia brand of
RVs, says it has signed a deal to acquire substantially all of the
assets of the Roadtrek brand.
It says it plans to resume production of Roadtrek RVs in Waterloo Region and hire a workforce that could eventually grow to more than 200 employees.
"Roadtrek is a well established leading brand in the B Class segment of the RV market," Rapido president Pierre Rousseau said in a news release.
"Our priority will be to re established operations and further develop this famous brand in North America."
The future of the Roadtrek brand has been uncertain since former owner Erwin Hymer Group North America was closed and placed in receivership in February. The closing put 800 people out of work at plants in Cambridge and Kitchener.
Rapido said it intends to assume the lease of one of the existing Erwin Hymer manufacturing plants. It did not identify which one.
The company, based in Mayenne, France, noted that the deal is subject to due diligence and the executive of a definitive purchase agreement.
Rapido's roots go back to a cabinet making business started in France by Constant Rousseau in 1948. Over time, the business evolved into a caravan and motorhome manufacturer. It has 12 brands of RVs.
The family-owned company has more than 1,500 employees in four countries.
It says it plans to resume production of Roadtrek RVs in Waterloo Region and hire a workforce that could eventually grow to more than 200 employees.
"Roadtrek is a well established leading brand in the B Class segment of the RV market," Rapido president Pierre Rousseau said in a news release.
"Our priority will be to re established operations and further develop this famous brand in North America."
The future of the Roadtrek brand has been uncertain since former owner Erwin Hymer Group North America was closed and placed in receivership in February. The closing put 800 people out of work at plants in Cambridge and Kitchener.
Rapido said it intends to assume the lease of one of the existing Erwin Hymer manufacturing plants. It did not identify which one.
The company, based in Mayenne, France, noted that the deal is subject to due diligence and the executive of a definitive purchase agreement.
Rapido's roots go back to a cabinet making business started in France by Constant Rousseau in 1948. Over time, the business evolved into a caravan and motorhome manufacturer. It has 12 brands of RVs.
The family-owned company has more than 1,500 employees in four countries.
Thor went ahead with that acquisition, but excluded the North American operations from the deal.
Roadtrek was founded in 1974 in Kitchener as Home & Park Vehicles. The business was acquired by Industrial Opportunity Partners in 2011. Five years, later Germany's Erwin Hymer Group bought the company.
From - therecord.com
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