NAPPANEE, Ind. – It was announced that Winnebago industries agreed to acquire Newmar Corporation, an RV manufacturer based out of Nappanee.

Newmar is valued at $344 million, and has been an industry leader in the RV business for over 50 years.

Newmar manufactures Class A luxury, diesel, gas and Super C motorhomes.

Michael Happe, the President and Chief Executive Officer of Winnebago Industries, said, “Newmar’s dedication to manufacturing premium, high-end motorhomes makes it a natural fit with our portfolio of leading outdoor lifestyle brands and we look forward to welcoming Newmar to the Winnebago Industries family.”

Winnebago Industries says that the acquisition will help increase sales and enhance the value of their products.

Newmar will operate as a distinct business unit within Winnebago Industries.

The deal will be finalized by next year.