The Greenbrier Cos., Inc., Lake Oswego, Ore., entered into an agreement to acquire the manufacturing business of American Railcar Industries (ARI), Saint Charles, Mo., from ITE Management LP, New York, for $400 million.

The acquisition will diversify Greenbrier's U.S. manufacturing presence, as well as broaden its product offerings with the addition of complementary designs. Greenbrier will acquire two railcar manufacturing facilities in Arkansas and five other operations that provide a range of railcar component and parts supply. These operations build hopper car outlets, tank car valves, axles, castings and railcar running boards, among other ancillary railcar products.