BIZ: M&A: REV Group sells shuttle bus businesses to Forest River

摘要

USA - Specialty vehicle brand manufacturer, REV Group Inc of Milwaukee, Wisconsin has sold its shuttle bus manufacturing businesses - this is thought to include the following brands - Champion Bus, Federal Coach, World Trans, Krystal Coach, ElDorado and Goshen Coach - to Forest River Inc of Elkhart, Indiana last month. These six coach brands join another six shuttle bus conversion brands already part of Forest River Inc of Elkhart Coach, Battisti Customs, Glaval Bus, Starcraft Bus, StarTrans Bus and Berkshire Coach. Rod Rushing, president and chief executive officer (CEO) of the REV Group explained the decision to sell the shuttle bus businesses: "We continue to review our businesses and align the portfolio to achieve our strategic objectives and create shareholder value. The divestiture of our shuttle bus business provides an opportunity to improve our portfolio profitability, reduce debt and renew our focus on reducing our leverage. We are committed to improving our operations to achieve best-in-class performance in each of our business segments. I appreciate the hard work and dedication of our shuttle business employees and wish them success."