THE GOSHEN NEWS
Jayco Corp. has entered into a letter of intent to purchase Open Range RV in Shipshewana.
According to Jayco officials, the letter of intent contemplates a transaction between the two companies and is subject to the execution of a definitive agreement between the two companies.
Open Range RV will operate as a wholly owned and separate subsidiary with Randy Graber as president. Graber is the current president of Open Range RV.
“The two companies are a natural match.” Graber said. “Culturally speaking, both Jayco and Open Range enjoy strong relationships with their dealer body recognizing the importance of maintaining a partnership style association.”
According to a news release, with growth in excess of 20 percent annually, the management of Open Range recognized in order to maintain and further increase that type of growth, it was necessary to partner with a larger company.
“I am extremely excited to be able to take Open Range to the next level. It’s a dream come true,” Graber said.
Derald Bontrager, Jayco’s president and chief executive officer, said, “Open Range will be a perfect addition to the Jayco family. We are thrilled to partner with someone like Randy Graber who has such vast industry experience and innovative product knowledge.”