Cavco Industries Acquires Florida-based Chariot Eagle

PHOENIX, Ariz., March 30, 2015 - Cavco Industries, Inc. (NASDAQ: CVCO) announced today that it has completed the purchase of the business and operating assets of Chariot Eagle, Inc., a Florida-based manufacturer of park model RVs and manufactured homes.

Cavco's acquisition of Ocala, Fla.-based Chariot Eagle provides the company with additional park model RV product lines, while further strengthening the company's geographic reach in the Southeastern United States, where Chariot Eagle founder Bob Holliday has built a loyal following for the past 30 years.

"We are pleased to have the opportunity to bring aboard entrepreneur Bob Holliday and his team of highly experienced people and to integrate the strong Chariot Eagle brand and family of product offerings with our own growing business," said Joseph Stegmayer, Cavco's chairman and chief executive officer.

"We have been patient in seeking additional growth opportunities for our park model RV and cabin businesses and believe that this acquisition will be a positive long-term strategic move for Cavco and our customers."

Chariot Eagle will continue to produce park models using its existing brand name and Holliday will continue to serve as Chariot Eagle's president.

"Joining forces with the largest and most recognized company in the park model RV and cabin businesses is the right move at the right time," Holliday said. "Our company cultures are similar with an emphasis on quality products and attentive service, treating people fairly, innovation and production flexibility. We know that we will benefit from Cavco's size and strength, which will only help us better serve our current and prospective customers."