Thor Industries Inc. says it has entered into a definitive agreement to sell its bus business to Allied Specialty Vehicles (ASV) for $100 million.
The deal is expected to close by the end of October.
“Although the bus business has been a valuable part of Thor, this transaction allows us to focus on maintaining and growing our leadership position in our core recreation vehicle (RV) business,” said Peter B. Orthwein, Thor chairman, in a company release.
Thor’s bus business includes Champion Bus Inc., General Coach America Inc., Goshen Coach Inc., El Dorado National California Inc., and El Dorado National Kansas Inc.
“We view the opportunity to expand our business into the transit and shuttle bus markets as a key initiative in broadening our markets and providing products that meet the needs of our dealers and end consumers,” said Peter Guile, president and CEO of Allied Specialty Vehicles.
ASV has been on the move this year. In May, the company acquired Navistar’s RV unit and ambulance manufacturer SJC Industries from Thor Industries.