Brisbane, Australia-based Apollo Tourism and Leisure, which boasts a rental fleet of 3,000 motorhomes, has recently acquired CanaDream Corp. and Kratzmann Caravans for $43 million, closing the transaction in July.
CanaDream, one of the largest RV rental and sales companies, was purchased for $28 million. Meanwhile, Queensland-based Kratzmann was sold for $15.6 million. According to Apollo CEO Luke Trouchet, reports “The Courier Mail,” a $40.3 million entitlement offer to shareholders will be used to finalize the acquisition.
Trouchet mentioned how this deal expands their prescence in North America with its now combined fleet of over 5,700 motorhomes and RVs, and will grow the company’s revenue in Australia and New Zealand. Apollo shares bumped up 6.11 percent as a result.