Forest River (company)
|Industry||recreational vehicle products|
|Headquarters||Elkhart, Indiana, United States|
Number of locations
|Revenue||US $3.8 billion|
Number of employees
|Divisions||Prime Time Manufacturing, Elkhart Coach, Coachmen RV, Shasta RV, Palomino RV|
Forest River Inc, a US manufacturer of a diverse line of primarily recreational vehicle products, $3.8 billion in sales, 75 plants, 11,000 employees. Located in Elkhart, Indiana, the company operates multiple manufacturing facilities throughout the Mid West and West Coast. CEO, Peter Liegl founded the company in 1996, which today makes all classes of RVs, cargo trailers, utility trailer, pontoon boats, light and medium-duty buses (primarily shuttle buses, not inner-city transit buses), portable offices, and structures to use for temporary schools. Forest River also owns a manufactured housing business, Hart Homes.
Purchase by Berkshire Hathaway
On June 22, 2005, Warren Buffett, head of Berkshire Hathaway, made an offer to purchase Forest River over the telephone while speaking to CEO Pete Liegl. This offer came just one day after Buffet had first learned about the company from a fax received at his office which detailed why Forest River would be a solid acquisition for Berkshire. On June 28 Buffet and Liegl shook hands on a deal. Buffet then gave Liegl his home telephone number and his cell number and told him if he needs something to call him, "Otherwise I talk to you in a year, or so". The transaction was closed on August 31, 2005. In Berkshire Hathaway Inc's 2005 annual report, the 75-year-old Buffett states, "Pete is a remarkable entrepreneur" and adds, "You can be sure that I won't be telling Pete how to manage his operation".
Forest River sells its vehicles under several different brands. The following brands are part of Forest River.
Motor home brands:
- Forest River
- Cedar Creek
- Day Dreamer
- XLR Toy Haulers
Park model brands:
Modular & HUD Homes:
- Rockport Commercial Vehicles
- South Bay Pontoons
- Berkshire Pontoons
- Xcursion Pontoons
Prime Time Manufacturing
- "Berkshire Pontoons, A Forest River Marine Division manufacturing luxury, innovative, high performance and fishing pontoon boats". Berkshirepontoon.com. Retrieved 2013-05-08.
- "Forest River Inc., a Berkshire Hathaway Company: RV, Cargo Trailers, Boats, Commercial, Housing". Forestriverinc.com. Retrieved 2013-05-08.
- "Berkshire Hathaway 2005 Annual Report".
- "Berkshire Hathaway Subsidiary Listings".
- "Forest River unveils Newly Formed Prime Time at 2nd Annual Show".