Thor Industries, Inc., owner of the Airstream, CrossDoads, CruiserRV, Dutchman, Enter, Heartland RV, Highland Ridge RV, Jayco, Keystone, KZ, Starcraft, Thor, Tiffen, and Venture RV brands, is executing a strategic organizational restructuring aimed at optimizing its business structure and strengthening its brand portfolio.
The company will integrate Heartland Recreational Vehicles under Jayco, Inc. to enhance operational efficiencies and streamline business processes as part of this realignment.
President and CEO of Thor, Bob Martin, emphasized the importance of this restructuring in response to industry trends: “Through the current downcycle, our companies focused on appropriate brand rationalization and right-sizing their product lineups to meet the current market conditions and customer demands,” Martin explained. “This restructuring takes the idea of rationalization for optimization to the next level as we considered the impact of the evolved marketplace in the U.S. RV market, which includes significant dealer consolidation. This move aligns Heartland with Jayco’s proven track record of optimized operations, a strong competitive brand offering, and customer service.”
Martin continued, “As we have previously discussed, Heartland has faced recent challenges in these areas while Jayco, under the leadership of Ken Walters, has demonstrated consistent excellence in each area. Aligning key Heartland brands under the Jayco umbrella creates the potential to maximize the performance of those brands. By leveraging Jayco’s expertise and leaning into Jayco’s support structure, we are confident that Heartland will achieve meaningful performance improvements, delivering greater value to our customers, dealers, and stakeholders.”
As part of the restructuring, certain private-label brands manufactured by Heartland will be transferred to Dutchmen Manufacturing, a division of Thor’s subsidiary Keystone RV Company.
“Under the leadership of Aaron Young, these private label brands will be under leadership that has proven its ability to deliver private label offerings with strong margins. Consolidating this business with Dutchmen’s current lineup will improve our operating leverage at Dutchmen and empower Dutchmen to continue to provide high-quality private label brands previously offered by Heartland,” added Martin.
“Jayco and its brands, which include its Jayco flagship as well as Entegra Coach, Highland Ridge RV, and Starcraft, is synonymous with excellence,” offered Walters, president of Jayco, Inc. “That excellence runs from production through the life of a customer’s ownership experience. As we welcome Heartland into the Jayco family, we will ensure the same excellence in the products that Jayco currently offers to the market and also in the relationships that we manage both with our dealers and our retail customers. Importantly, there will be no disruption of the ownership experience of current Heartland owners and dealers. We will work with the Heartland customer service team to ensure the same high standards that we provide to our Jayco customers. We look forward to working with key members of the Heartland team to get those brands back where they belong in the market.”
The company expects the moves to provide strategic benefits, including improved synergies across brands, reduced operating costs, enhanced customer service capabilities, and a more efficient distribution strategy to a consolidated dealer base to drive improved margins for the Thor companies.
“Our goal is to foster a more seamless operational framework that allows us to operate more efficiently and more effectively in the evolving U.S. market,” Martin continued. “This restructuring reflects our dedication to long-term growth, efficiency and excellence in the RV industry.”
The transition will take place over the coming months and will focus on ensuring a seamless integration process for employees, dealers, and customers.
“Our team members, our customers and our dealers can expect a return to the same strong products, service and innovation that once made Heartland a leading company in the industry,” concluded Walters.
Image courtesy Heartland Recreational Vehicles
