Rapido Group, owner of the Westfalia brand, announced it has received the approval of the Ontario Superior Court of Justice to acquire substantially all of the assets related to the Roadtrek RV brand, an operating division of Erwin Hymer Group North America Inc. which is in the midst of receivership proceedings.
According to a press release, the court issued an Approval and Vesting Order yesterday (July 18) morning approving the transaction, the asset purchase agreement and the TSA.
Rapido and the Receiver are now working towards closing the transaction by no later than July 5. Rapido plans to resume operations as soon as possible thereafter. Rapido is in the process of hiring a workforce that could grow eventually to more than 200 employees.
The acquisition of Roadtrek signifies Rapido’s return with Westfalia to the North American leisure vehicle market. North America is familiar territory for Rapido Group, as Westfalia was a well-known brand in North America in the 1960s and 1970s.
Rapido Group President Pierre Rousseau said “We are excited by the opportunity to relaunch the Roadtrek business and are proud of our commitment to the town of Cambridge and the province of Ontario, where we will base our North American operations and employ well over 100 local workers by the end of the summer of 2019.”