Navistar will begin operating the newly formed subsidiary Monaco RV LLC, making the International truck and bus manufacturer the latest player in the motorcoach industry.
Thursday’s $47 million deal completed the transaction of acquiring existing inventory, intellectual property and production facilties located at Monaco’s headquarters in Coburg, Ore., plus in Harrisburg, Ore., Wakarusa, Ind., and Milford, Ind. Navistar now owns the Monaco, Holiday Rambler, Safari, Beaver, McKenzie and R-Vision brands.
The former Monaco Coach Corporation filed for bankruptcy in March and terminated its remaining workforce as it sought additional financing. Later that month, Navistar signed a non-binding letter of intent to purchase the RV business. A U.S. Bankruptcy Court for the District of Delaware approved the final sale order on May 22.
Monaco production halted since the bankruptcy filing. Navistar, which also owns IC Bus, said in a release that it would resume operations “at certain facilities” later this year.
Navistar Completes Entry into Motorcoach Market
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