JONESBORO, AR (KAIT) - American Railcar Industries will soon be under new ownership.
Greenbrier Companies, Inc. announced Thursday it has entered an agreement to acquire ARI from ITE Management LP for a gross purchase price of $430 million.
According to a news release from Greenbrier, the acquisition is expected to strengthen the “North American product base” and increase railcar offerings.
The purchase will include the two ARI facilities in Paragould and Marmaduke
Greenbrier expects to close the deal, which is subject to regulatory review and approval, by the end of 2019.
The company is headquartered in Lake Oswego, Oregon.