Harley-Davidson Inc. said it has agreed to sell its Holiday Rambler recreational vehicle unit to Monaco Coach Corp., a luxury-bus maker, for about $50 million.
Harley-Davidson will sell the unit's manufacturing operations, as well as 10 of the division's RV dealerships. The purchase price will consist of cash, preferred stock and a note.The sale is subject to antitrust clearance and Monaco's securing of financing. The transaction is expected to close by the end of the first quarter.
Harley-Davidson said the sale is part of a strategy to focus on its core motorcycle business. The Milwaukee-based company also said it has retained an investment banking firm to explore the sale of its Utilimaster commercial vehicle business and its B&B Molders plastics unit.