---
schema_version: "secwatch.filing_event.v1"
accession: "0001589526-26-000010"
form_type: "8-K"
ticker: "BLBD"
cik: "0001589526"
company_name: "Blue Bird Corp"
filed_at: "2026-02-17T23:59:59+00:00"
generated_at: "2026-05-16T02:26:01.849594+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Blue Bird to acquire full ownership of Micro Bird JV for ~$200M

## Summary
- Purchase price $198.2M: 30% cash (~$59.5M) and 70% stock (~2.7M exchangeable shares).
- Expected close H1 2026; adds Steve Girardin to Blue Bird Board as Class III director.
- Also acquires Micro Bird's Plattsburg, NY plant for ~$16.5M separate consideration.
- Consolidates Type A, C, D bus portfolio; expands Buy America-compliant shuttle bus TAM.
- Five-year non-compete; lock-up on stock consideration with phased releases over 3 years.

## SEC filing metadata
- accession: 0001589526-26-000010
- form_type: 8-K
- ticker: BLBD
- cik: 0001589526
- company_name: Blue Bird Corp
- filed_at: 2026-02-17T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1589526/000158952626000010/0001589526-26-000010-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1589526/000158952626000010/blbd-20260215.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001589526-26-000010
- JSON: https://secwatch.observer/filing/0001589526-26-000010.json
- Plain text: https://secwatch.observer/filing/0001589526-26-000010.txt

## Key facts
- Material Agreements
  Blue Bird Corp entered into Share Purchase Agreement with Girardin Group valued at Purchase price $198,237,010: 30% cash at closing, 70% paid through issuance of 2,702,180 exchangeabl (effective 2026-02-15).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Girardin Group
  - Value: Purchase price $198,237,010: 30% cash at closing, 70% paid through issuance of 2,702,180 exchangeabl
  - Effective: 2026-02-15
  source text: On February 15, 2026, Blue Bird entered into a Share Purchase Agreement (the “ Purchase Agreement ”), with (i) the AG 2014 Trust (“ AG Trust ”), the SG 2014 Trust (“ SG Trust ”), and the DG 2014 Trust (“ DG Trust ” and collectively with AG Trust and SG Trust, the “ Trusts ”), Groupe Autobus Girardin Ltée, a corporation existing under the federal laws of Canada (“ GAG ”), Girardin Minibus JV 2 Inc., a corporation existing under the laws of the Province of Québec (the “ MB US Seller ” and together with the Trusts and GAG, the “ Sellers ” and each, a “ Seller ”), to acquire 100% of the issued and outstanding Equity Securities of Girardin Minibus JV Inc., a corporation existing under the laws of the Province of Québec (“ MB Canada Target ”) and 100% of the issued and outstanding Equity Securities of Girardin Minibus JV 2 USA Inc., a Delaware corporation (“ MB US Target ”)(together with MB Canada Target, the “ Micro Bird Targets ” and each, a “ Target ”) in exchange for an aggregate purchas
  evidence_url: https://www.sec.gov/Archives/edgar/data/1589526/000158952626000010/0001589526-26-000010-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.