Forest River Inc., an American powerhouse in recreational vehicle manufacturing, also produces cargo trailers, utility trailers, pontoon boats, and buses. Established in 1996 by Peter Liegl, the company has rapidly expanded through strategic acquisitions and innovative product development. As a subsidiary of Berkshire Hathaway since 2005, Forest River operates under the leadership of CEO Peter Liegl, with over 11,000 employees.
Historical Development:
- Founded on January 26, 1996, by Peter Liegl, after purchasing assets from Cobra Industries.
- Initially produced tent campers, travel trailers, fifth wheels, and park models under brands like Salem, Sierra, Sandpiper, Wildwood, Rockwood, Flagstaff, Summit, and Quailridge.
- Expanded to cargo utility trailers in 1996 with the Cargo Mate line.
- In 1997, launched Continental Cargo, another cargo trailer line.
- 1998 marked the entry into pontoon boat manufacturing and Class A Motorhomes.
- Acquired US Cargo in 2000, Starcraft Bus and Glaval Bus in 2001, and Vanguard Industries and Palomino in 2002.
- In 2005, acquired by Warren Buffett’s Berkshire Hathaway, Inc.
- Continued expansion with acquisitions of Rance Aluminum Fabrication, Priority One Financial Services, Coachmen RV, Dynamax Corporation, StarTrans Bus, and several shuttle bus brands from REV Group.
Recent Developments:
- Launched Berkshire Coach luxury bus line in 2017 and acquired Battisti Customs.
- Added Trifecta Pontoon line in 2016.
- Expanded manufacturing facilities in Oregon, California, and Michigan in 2014.
- Entered luxury motorhome market with acquisition of Dynamax Corporation in 2011.
Berkshire Hathaway Acquisition:
- In 2005, Warren Buffett quickly recognized Forest River’s potential, leading to a swift acquisition by Berkshire Hathaway, enhancing financial stability and growth prospects.