Jayco Corporation has announce that on February 24 it entered into a Letter of Intent (LOI) with Open Range RV, based in Shipshewana. The letter of intent contemplates a transaction between the two companies and is subject to the execution of a definitive agreement between the two parties.
Open Range RV will operate as a wholly owned and separate subsidiary with Randy Graber as president. “The two companies are a natural match.” said Graber. “Culturally speaking, both Jayco and Open Range enjoy strong relationships with their dealer body recognizing the importance of maintaining a partnership style association.”
With growth in excess of 20 percent annually, the management of Open Range recognized that in order to maintain and further increase that type of growth, it was necessary to partner with a larger organization. “I am extremely excited to be able to take Open Range to the next level, it’s a dream come true.” Graber stated.
“Open Range will be a perfect addition to the Jayco family,” according to Derald Bontrager, Jayco’s president and CEO. “We are thrilled to partner with someone like Randy Graber who has such vast industry experience and innovative product knowledge.”