The sale of Starcraft Corp.’s van conversion manufacturing business to Centurion Vehicles Inc. of White Pigeon, Mich., was finalized on Tuesday (May 29).
The deal was closed under terms revealed earlier this month.
Starcraft Corp. sold its van conversion business in Goshen, Ind., for $1 million in cash and a one-year note. Meanwhile, Centurion gets $2.25 million worth of inventory, machinery and equipment from Starcraft.
The 110 employees of Starcraft’s van conversion operation in Goshen will be given the opportunity to retain their jobs once production shifts to Centurion’s 120,000-square-foot factory in White Pigeon.
Centurion anticipates beginning Starcraft van conversion production in White Pigeon around June 11.
As part of the transaction, Centurion will assume future warranty obligations on Starcraft van conversions and Centurion will pay royalties to Starcraft for the right to use the Starcraft name, certain trademarks and patents.
Centurion, originally a truck converter, entered the van conversion business five years ago when it bought Advantage Enterprises of Goshen, Ind., manufacturer of the Advantage, Rockwood and Cobra brands.