Brand
Monaco
Monaco was an American builder of diesel motorhomes that began in Junction City, Oregon, in 1968. Its top coaches rode on Monaco's own Roadmaster chassis. Monaco Coach Corporation went bankrupt in 2009, and the brand passed to Navistar and then to the company now called REV Group. REV says Monaco motorhomes are no longer being built.
Photo: Cassone's RV · All rights reserved
Models
History
Monaco began in 1968 as Caribou Manufacturing Company in Junction City, Oregon. Ray Mehaffey started it with his family and some friends after moving from California. In 1971 the company designed a small motorhome called the Monaco, and that name later became the name of the whole business.
Brian Obie bought the company in 1974 and renamed it Monaco Motor Home, Inc. in 1977. In 1984 it bought the Roadmaster chassis division from Chrysler, so Monaco could build its own chassis. In 1987 the company was sold to Bill Warrick and a group of investors that included Kay Toolson. A redesigned Crown Royale on the first rear-engine Roadmaster chassis followed in 1988, and the 1991 Dynasty was shown in the fall of 1990.
The modern company dates from March 1993, when Kay Toolson and other managers bought the business. It announced its first public stock offering that fall. In March 1996 it bought Holiday Rambler from Harley-Davidson. By the late 1990s it built motorhomes in Coburg, Oregon, and Wakarusa, Indiana.
Monaco's annual reports show how the diesel line was stacked. The report for fiscal 1996 lists the Signature Series, Executive, Dynasty and Windsor, with a bus-conversion line called Royale Coach priced above them. The lower-priced Diplomat arrived in December 1997 and the Knight in December 1999. The Camelot first appears in the report for fiscal 2001, and the low-priced Cayman was added late that year.
The company kept growing by buying other builders. It bought SMC Corporation, the maker of Safari and Beaver coaches, on August 2, 2001, and R-Vision in November 2005. In 2005 it also announced the closing of Royale Coach, which turned bus shells into motorhomes in Elkhart, Indiana. In fiscal 2007 the company reported sales of about $1.27 billion and 5,348 full-time employees.
Monaco Coach Corporation filed for Chapter 11 bankruptcy on March 5, 2009. On June 4, 2009, a Navistar affiliate bought its main motorhome business. Navistar gave the price as about $47 million, while Monaco's own filing listed $52 million in cash before adjustments. The new company was called Monaco RV LLC and kept its headquarters in Coburg.
In July 2011 Navistar decided to cut back the Coburg plant and move all motor coach production to Wakarusa, Indiana. In May 2013 it sold the RV business, with the Monaco, Holiday Rambler and R-Vision brands, to Allied Specialty Vehicles. Wikipedia says that company took the name REV Group in 2015.
REV's brochure archive lists Monaco motorhomes through the 2019 model year, ending with the Signature and the Marquis. The Monaco website now says the coaches are no longer being manufactured and points owners to service and parts support.
Timeline
Ray Mehaffey, his family and friends start Caribou Manufacturing Company in Junction City, Oregon. It is the company that later becomes Monaco.
Caribou designs and builds a mini motorhome called the Monaco.
Brian Obie buys the company in 1974 and in 1977 renames it Monaco Motor Home, Inc.
Monaco buys the Roadmaster Chassis Division of Chrysler and starts building its own chassis.
The company is sold to Bill Warrick and a group of investors that includes Kay Toolson, who later leads Monaco.
The Crown Royale is fully redesigned on the first rear-engine Roadmaster chassis and shown in the fall.
Kay Toolson and other managers buy the business in March 1993. The company announces its first public stock offering that fall.
On March 4, 1996, Monaco buys certain Holiday Rambler assets from Harley-Davidson for $21.5 million in cash, preferred stock and the assumption of most of Holiday Rambler's liabilities.
In December 1997 Monaco introduces the Diplomat as a new lower-priced diesel motor coach.
In December 1999 Monaco introduces the Knight, a low-priced diesel motor coach.
On August 2, 2001, Monaco buys SMC Corporation, which adds the Safari and Beaver brands. The Cayman, a low-priced Monaco diesel, is introduced in the fourth quarter.
Monaco announces the closing of its Royale Coach bus-conversion operation in Elkhart, Indiana. On November 18, 2005, it buys R-Vision and related companies.
Monaco and International Truck and Engine Corporation form Custom Chassis Products LLC. Monaco holds 49 percent.
Monaco Coach Corporation files for Chapter 11 on March 5, 2009. On June 4 a Navistar affiliate completes its purchase of the main RV manufacturing assets, and the old company is renamed MNC Corporation.
On July 29, 2011, Navistar commits to scaling back the Coburg, Oregon, plant and putting all motor coach production in Wakarusa, Indiana.
On May 16, 2013, Navistar announces the sale of its RV business, including the Monaco, Holiday Rambler and R-Vision brands, to Allied Specialty Vehicles.
According to Wikipedia, Allied Specialty Vehicles took the name REV Group in 2015.
REV's brochure archive for Monaco ends with the 2018 and 2019 Signature and Marquis.
Sources
- Monaco brochure archive (REV Group)
- SEC EDGAR filings for Monaco Coach Corporation (later MNC Corp)
- Monaco Coach Corporation Form 10-K for fiscal 2004
- MNC Corp Form 8-K, June 10, 2009
- Navistar news release: Navistar Affiliate Completes Purchase of Certain Monaco Coach Assets
- Navistar news release: Navistar Sells Recreational Vehicle Business
- Navistar International Form 8-K, August 4, 2011
- FundingUniverse: Monaco Coach Corporation company history
- Wikipedia: Monaco Coach Corporation
- MotorHome magazine archive: Monaco to Close Royale Coach Operations
- Monaco owners page (REV Group)