Thor Repurchases 2,000,000 Shares of Stock

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  Published in House and Home on Friday, January 20th 2012 at 13:41 GMT by Market Wire
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Thor Repurchases 2,000,000 Shares of Stock -- JACKSON CENTER, Ohio, Jan. 20, 2012 /PRNewswire/ --

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JACKSON CENTER, Ohio, Jan. 20, 2012 /PRNewswire/ -- Thor Industries, Inc. (NYSE: [ THO ]) announced today that it has entered into a repurchase agreement, dated as of January 18, 2012, to purchase 1,000,000 shares of its common stock at a price of $28.50 per share from the Estate of Wade F. B. Thompson (the "Estate") in a private transaction.  The Estate holds shares of common stock of Thor previously owned by the late Wade F. B. Thompson, Thor's co-founder and former Chief Executive Officer.  The repurchase transaction with the Estate was evaluated and approved by members of Thor's board of directors who are not affiliated with the Estate.  The transaction with the Estate was consummated on January 20, 2012.

Thor also announced today that it has entered into repurchase agreements with Catterton Partners VI, L.P. and certain of its affiliates (collectively, "Catterton"), each dated as of January 18, 2012, to purchase an aggregate of 1,000,000 shares of its common stock at a price of $28.50 per share from Catterton in a private transaction.  The transaction with Catterton was consummated on January 20, 2012.

Thor used available cash to purchase the shares from the Estate and Catterton.  The number of shares repurchased by Thor represented 3.6% of Thor's issued and outstanding common stock prior to the repurchase transactions.  The closing price for Thor common stock on January 18, 2012 was $29.34.

Thor is the world's largest manufacturer of recreation vehicles and a major builder of commercial buses.

SOURCE Thor Industries, Inc.