Camping World Holdings announced an agreement to acquire the assets and certain real estate of seven dealerships from Lazydays Holdings. The deal is valued at approximately book value, with Camping World estimating a net cash outlay of between $10 million to $20 million after anticipated third-party real estate financing.
As part of the agreement, Camping World will convert its deposit into 9.7 million shares of Lazydays Holdings common stock upon closing, which will occur following the necessary regulatory approvals.
The seven dealerships involved in the transaction generated nearly $200 million in revenue on a trailing twelve-month basis during a down cycle in the RV market. These locations offer a traditional mix of travel trailers, fifth wheels, and class B and class C RVs from top manufacturers such as Grand Design, Thor, and Forest River.
The combined market area within a 50-mile radius of these dealerships sees annual sales of over 65,000 new and used RV units, presenting significant market share opportunities for Camping World.
According to a press release, Camping World’s CEO, Marcus Lemonis, highlighted that the acquisition would provide access to top OEM brands and further market share. Lemonis emphasized the alignment with Camping World’s strategic priorities.
“We are adding distribution points for our contract manufactured offerings and Good Sam suite of products, with F&I offices immediately converting to Good Sam Business Centers upon close. We expect to continue to capitalize on today’s robust dealership M&A environment,” Lemonis explained.
The seven Lazydays locations that Camping World intends to acquire are located in Surprise, AZ (Phoenix); Murfreesboro, TN (Nashville); Sturtevant, WI (Milwaukee); Council Bluffs, IA; Elkhart, IN; Portland, OR; and Woodland, WA (Vancouver).
Camping World, headquartered in Lincolnshire, Illinois, operates a national network of RV dealerships, service centers, and customer support centers, while also offering a comprehensive online presence. Camping World’s Good Sam brand provides a suite of services, including roadside assistance and insurance, to support the RV lifestyle.
