For the second time this week, Thor Industries Inc. announced an expansion of its bus business with the acquisition of certain assets of Ricon Corp.’s specialty vehicle division that builds mini-buses for the mobility impaired.
Terms of the deal were not disclosed.
The acquisition announced today (March 2) will increase Thor’s sales revenue by about $30 million and is expected to add to earnings, said Thor Chairman Wade F.B. Thompson.
Production of the buses, which includes the Activan and VersaShuttle lines, will be moved to Thor’s bus operations in Salina, Kan., Thompson said.