US group Thor Industries on Tuesday said it had bought German motorhome maker Erwin Hymer Group in a 2.1-billion-euro deal that will create "the world's largest" manufacturer of recreational vehicles. Thor, maker of the iconic silver Airstream motorhomes, said it expected regulators to approve the cash-and-share deal by the end of the year.
"The combination creates the world's largest RV manufacturer, with the leading position in both North America and Europe," the two companies said in a joint statement. The until now family-owned Erwin Hymer Group makes everything from lightweight travel trailers to high-end motorhomes and employs some 7,300 people worldwide. Hymer CEO Martin Brandt told DPA news agency the acquisition would not lead to any job losses.