Kit Manufacturing Co. sold its RV division to two of its former managers effective Jan. 30 and the sale of its manufactured home business to “an unaffiliated third party” is pending, according to a statement issued by Kit last weekend.
Kit sold its RV division to Extreme RV’s LLC, a company founded by Don Day and Jim Homburger, both of whom managed Kit’s RV assembly operation in Caldwell, Idaho. Kit sold “substantially all of the assets” of its RV division to Extreme RV’s for “cash and the assumption of certain liabilities,” according to Kit’s statement.
A sale by Kit of certain real estate to Extreme RV’s is pending. Until the sale is finalized, Kit will lease the property to Extreme RV’s.
Day was the general manager of Kit RV and Homburger was its production manager. They hired 165 former Kit RV production workers and they are building Extreme sport utility trailers and the other brands formerly produced by Kit. Those brands include Road Ranger, Companion, Millennium, Sportmaster and Monterey.
The sale of the RV division and the “dramatic reduction in corporate overhead expenses” that resulted from the sale will allow Kit’s manufactured housing business to operate profitability, according to company officials.
Meanwhile, Kit will continue “to review a definitive agreement to sell (the manufactured housing business) to an unaffiliated third party,” according to the Kit statement.