In a significant move within the recreational vehicle (RV) industry, Tourism Holdings Limited (THL), a New Zealand-based company, has announced its acquisition of Camperagent RV Centre, a prominent dealership in Adelaide.
This acquisition, valued at approximately AU$11.9 million, marks a strategic expansion for THL in the Australian RV market, reflecting the company’s growth-oriented approach and its commitment to strengthening its global presence in the RV sector.
Camperagent RV Centre, a family-owned business with over two decades of history, has established itself as a leader in the sale of new and used motorhomes, campervans, and caravans in Adelaide.
The dealership is also known for its comprehensive services in parts, servicing, and storage. This acquisition by THL is not just a financial transaction but a merger of expertise and reputation, promising to enhance the RV experience for customers in South Australia, according to a report by Autotalk.
THL CEO Grant Webster has emphasized that the acquisition aligns with the company’s growth strategy, aiming to bolster its RV sales presence in South Australia. Webster highlighted the strategic importance of Camperagent’s strong customer reputation and its status as Adelaide’s leading RV dealership.
This move will provide THL with ancillary scale benefits across its Australian RV business, including faster rental fleet replenishment, a younger fleet age, and increased manufacturing volumes.
The financial details of the acquisition reveal a well-calculated investment by THL, with approximately AU$4 million accounted for in goodwill and AU$7.9 million in net tangible assets, primarily vehicle stock.
This investment indicates THL’s confidence in the RV market’s potential and its commitment to long-term growth in the region. The acquisition is projected to meet THL’s target of a 15% return on funds employed within its first year, showcasing the company’s strategic planning and financial acumen.
THL’s plan to consolidate its existing Adelaide rental depot and Apollo RV dealership with Camperagent’s site in North Adelaide is a testament to its vision for an integrated and efficient operation.
The site, nearly 28,000 square meters in size, will become a central hub for THL’s operations in the region. This consolidation is expected to enhance operational efficiency and customer service, further solidifying THL’s position in the Australian RV market.
The acquisition’s impact extends beyond financial metrics and operational efficiencies; it signifies THL’s commitment to expanding its footprint in the Australian RV market.
Historically underrepresented in this region, THL’s acquisition of Camperagent RV Centre is a strategic move to increase its market share and strengthen its sales capabilities in South Australia. This expansion is a clear indication of THL’s ambition to be a dominant player in the RV industry, not just in New Zealand but globally.
THL’s global operations span various countries, including New Zealand, Australia, the United Kingdom, Europe, the USA, and Canada, with franchises in Southern Africa and Japan.
The company’s diverse operations encompass RV design and build, rentals, sales, manufacturing, and tourism. This acquisition is a strategic addition to THL’s extensive portfolio, further enhancing its global presence and reinforcing its position as a leader in the RV industry.
The acquisition of Camperagent RV Centre by THL is more than just a business transaction; it is a fusion of expertise, reputation, and vision. It represents a significant step in THL’s journey to expand its global footprint and offer an enriched RV experience to customers worldwide.
The strategic nature of this acquisition, coupled with THL’s proven track record in the RV industry, positions the company for continued growth and success in the global market.