Winnebago Industries buys manufacturer of towable RVs for $5.7 million

Winnebago Industries Inc., a leading United States motor home manufacturer, on December 30, through a newly formed, wholly-owned subsidiary, Winnebago of Indiana LLC, consummated the purchase of substantially all of the assets of SunnyBrook RV Inc. (a wholly-owned subsidiary of SunnyBrook Manufacturing Inc.) pursuant to an Asset Purchase Agreement for a total cost of $5.7 million in cash.

Winnebago of Indiana will continue to manufacture towable products under the SunnyBrook brand and honor outstanding warranty commitments to current owners. In addition, the Company plans to diversify the product line to include Winnebago brand trailer and fifth wheel products. Elvie Frey, the president and majority owner of SunnyBrook Manufacturing, will remain with the company and serve as President of Winnebago of Indiana.

"We believe this acquisition will be highly successful," said Winnebago Industries' chairman, CEO and president Bob Olson. "We are thrilled to have Elvie lead the new subsidiary forward."

Randy Potts, Winnebago Industries' senior vice president of strategic planning, added, "Winnebago Industries and SunnyBrook are two very quality oriented companies and it was a great fit for us to have a presence in the heart of the RV capital. We believe we will be able to quickly grow the volume and market share of Winnebago of Indiana."

"We are very excited to join the Winnebago Industries team and be part of an iconic American company," said Elvie Frey, Winnebago of Indiana president. "This is a great opportunity for us to grow our organization as we develop exciting new products for both the SunnyBrook and Winnebago brands. We look forward to capitalizing on the top-notch Winnebago Industries' dealer network as we bring them towable products to allow them to maximize their performance."

About Winnebago Industries
Winnebago Industries is a leading U.S. manufacturer of motor homes which are self-contained recreation vehicles used primarily in leisure travel and outdoor recreation activities. The company builds quality motor homes under the Winnebago, Itasca and ERA brand names with state-of-the-art computer-aided design and manufacturing systems on automotive-styled assembly lines. Winnebago Industries has received the Quality Circle Award from the Recreation Vehicle Dealers Association every year since the award's inception in 1996.

About SunnyBrook Manufacturing
SunnyBrook Manufacturing is located in Middlebury, Ind. and produces a variety of towable RVs under the SunnyBrook RV brand name consisting of Harmony, Brookside, Bristol Bay, Edgewater and Sunset Creek travel trailers and Harmony, Brookside, Bristol Bay, West Pointe, Big Dog and Titan fifth-wheel trailers.