Cavco Industries Boosts Park Model RV Product Line with Acquisition of Chariot Eagle of Ocala, Florida
PHOENIX, Ariz., March 30, 2015 – Cavco Industries, Inc. (NASDAQ: CVCO) announced today that it has completed the purchase of the business and operating assets of Chariot Eagle, Inc., a Florida-based manufacturer of park model RVs and manufactured homes.
Cavco’s acquisition of Ocala, Fla.-based Chariot Eagle provides the company with additional park model RV product lines, while further strengthening the company’s geographic reach in the Southeastern United States, where Chariot Eagle founder Bob Holliday has built a loyal following for the past 30 years.
“We are pleased to have the opportunity to bring aboard entrepreneur Bob Holliday and his team of highly experienced people and to integrate the strong Chariot Eagle brand and family of product offerings with our own growing business,” said Joseph Stegmayer, Cavco’s chairman and chief executive officer.
“We have been patient in seeking additional growth opportunities for our park model RV and cabin businesses and believe that this acquisition will be a positive long-term strategic move for Cavco and our customers.”
Chariot Eagle will continue to produce park models using its existing brand name and Holliday will continue to serve as Chariot Eagle’s president.
“Joining forces with the largest and most recognized company in the park model RV and cabin businesses is the right move at the right time,” Holliday said. “Our company cultures are similar with an emphasis on quality products and attentive service, treating people fairly, innovation and production flexibility. We know that we will benefit from Cavco’s size and strength, which will only help us better serve our current and prospective customers.”
About Cavco Industries
Cavco is a leading producer of manufactured and modular housing, park model RV’s, and vacation cabins in the United States. Headquartered in Phoenix, Ariz., Cavco has built a reputation for quality and value since it opened for business in 1965. Cavco Homes and Cavco Park Models along with subsidiaries Fleetwood Homes, Palm Harbor Homes and Nationwide Homes are among the strongest brand names in the industry. The company employs approximately 3,200 people and operates sixteen manufacturing plants in the United States. Additional information about Cavco can be found at www.cavcoindustries.com.
About Chariot Eagle
Chariot Eagle was founded in 1984 by Bob Holliday to specialize in Park Model RV’s and modest size manufactured homes designed for planned communities and resorts. The company grew to become one of the largest privately owned Park Model RV builders in the country. Chariot Eagle has been named an INC magazine 500 growth company multiple times and has been recognized for quality and service. The company is based in Ocala, Florida and operates one of the most modern manufacturing facilities in the industry. Additional information about Chariot Eagle can be found at www.charioteagle.com.
Contact: Tim Gage
VP – Park Models, Cabins & Specialty Products
602.763.5488
timg@cavco.com
