Everything about Forest River Company totally explained
Forest River Inc, a US manufacturer of a diverse line of primarily recreational vehicle products, $1.6 billion in sales, 60 plants, 5,400 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 RV's, 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.
On June 22, 2005,
Warren Buffett, head of
Berkshire Hathaway, made an offer to purchase Forest River over the telephone while speaking to Pete Liegl. This offer came just one day after he'd 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 Warren and Pete shook hands on a deal. Warren then gave Pete 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 seventy-five 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".
Competitors:
Thor Industries
Further Information
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