I’ll never forget walking into my first RV show and seeing a Keystone Montana towering over the rest. The size, the luxury, the attention to detail—it was unforgettable. Later, when I browsed dealerships, Keystone seemed to be everywhere, from entry-level Springdale trailers to high-end fifth wheels. That got me curious: who owns Keystone RV? Knowing who’s behind the brand helps you understand not just the RV itself, but also the financial support, warranty strength, and reputation that come with it.
The short answer? Keystone RV is owned by Thor Industries, the world’s largest RV manufacturer. But the history of how Keystone got there is just as interesting as the RVs themselves.
Who Owns Keystone RV Today?
Keystone RV Company is a subsidiary of Thor Industries. Thor acquired Keystone in 2001, and the move quickly established Thor as the dominant force in the towable RV market. At the time, Keystone was already one of the fastest-growing RV companies in the U.S., and Thor recognized the opportunity to bring it under its umbrella.
Today, Keystone remains one of Thor’s most important brands, especially in the fifth wheel and travel trailer categories. From lightweight models like the Bullet to flagship names like Montana, Keystone represents a huge share of the market.
Image Source: RV Lifestyle Magazine
Keystone RV Ownership Timeline
Here’s a quick overview of Keystone’s ownership journey:
| Year | Event | Details |
| 1996 | Keystone founded | Founded by Cole Davis in Goshen, Indiana. |
| 1990s–2000 | Rapid growth | Keystone quickly expands with Montana and Cougar lines. |
| 2001 | Acquired by Thor Industries | Thor purchases Keystone RV, boosting its dominance in towables. |
| 2025 | Present day | Keystone continues operating under Thor, offering a wide product lineup. |
Who Founded Keystone RV?
Keystone RV was founded in 1996 by Cole Davis. His vision was to create affordable, high-quality towable RVs that appealed to families. Keystone’s early models like the Montana and Cougar hit the sweet spot of affordability and comfort, making them some of the best-selling fifth wheels in North America.
Even after selling to Thor in 2001, Keystone kept much of its original design philosophy, continuing to innovate in towables and introducing lightweight travel trailers that appealed to a broader market.
Which Brands Fall Under Keystone RV?
Keystone has a diverse lineup of RV brands that cover everything from budget-friendly to luxury models. Some of the most popular include:
- Montana – A flagship fifth wheel, known for luxury features.
- Cougar – A versatile lineup of travel trailers and fifth wheels.
- Springdale – Affordable and family-friendly towables.
- Bullet – Lightweight and easy-to-tow travel trailers.
- Hideout – Entry-level trailers perfect for first-time RVers.
- Fuzion & Raptor – Toy haulers designed for adventure seekers.
This variety makes Keystone one of Thor’s most valuable subsidiaries, appealing to first-time buyers as well as full-time RVers.
Where Are Keystone RVs Built?
Keystone RVs are built in Goshen, Indiana, and surrounding Elkhart County. This region is often called the RV Capital of the World, home to a dense concentration of manufacturers, suppliers, and skilled workers. Being located here helps Keystone maintain efficient supply chains and consistent build quality.
Is Keystone RV a Good Brand?
Keystone is widely recognized for offering one of the broadest ranges of RVs on the market. Its Montana line is consistently ranked among the top-selling fifth wheels in North America, while its Springdale and Hideout trailers are popular with budget-conscious buyers.
That said, like any large manufacturer, quality can vary by model and year. Pre-delivery inspections (PDIs) and dealer service reputation play an important role in customer satisfaction. Still, Keystone’s long-standing reputation and Thor’s backing give it credibility and stability in the RV marketplace.
FAQs About Keystone RV
1. Is Keystone owned by Forest River?
No. Keystone is owned by Thor Industries, not Forest River. Forest River is owned by Berkshire Hathaway, making it a separate competitor in the RV industry.
2. When did Thor buy Keystone RV?
Thor acquired Keystone RV in 2001, making it one of the earliest and most significant acquisitions in Thor’s history.
3. Is Keystone RV still made in the USA?
Yes. Keystone continues to manufacture RVs in Goshen, Indiana, and nearby Elkhart County. This region remains the hub of RV production in North America.
4. Does Thor own other RV brands besides Keystone?
Yes. Thor Industries owns many other popular RV brands, including Jayco, Airstream, Dutchmen, and CrossRoads, among others.
Wrapping Up the Journey
So, who owns Keystone RV? The answer is clear: Keystone has been owned by Thor Industries since 2001. As part of the world’s largest RV manufacturer, Keystone enjoys strong financial backing, a broad dealer network, and access to industry-leading resources.
For buyers, that means confidence in the brand’s longevity and support. Just as shoppers ask who owns Jayco RV or who owns Forest River RV, knowing Keystone is part of Thor’s powerful portfolio helps you understand its place in the market. Whether you’re considering a Keystone Montana for full-time living or a Springdale for weekend getaways, you’re buying into a brand with both history and corporate strength behind it.
