Camping World Set to Acquire RV Arizona Consignment Specialists

Rhea-AI Summary

Camping World Holdings, Inc. is set to acquire RV Arizona Consignment Specialists in Arizona, establishing a platform for nationwide rollout of consignment exclusive locations. The acquisition aims to enhance the company's goal of reaching $3 billion in used RV sales annually.

Positive

• Camping World is set to acquire RV Arizona Consignment Specialists, establishing a platform for nationwide rollout of consignment exclusive locations. This could positively impact the company's used RV sales and help them reach their goal of $3 billion annually.

Negative

• None.

 Establishes Platform and Plan for Nationwide Rollout of Consignment Exclusive Locations and Improved Consignment Process

LINCOLNSHIRE, Ill.--(BUSINESS WIRE)-- Camping World Holdings, Inc. (NYSE: CWH) (“Camping World”), the World’s Largest Recreational Vehicle Dealer, today announced that it is set to acquire RV Arizona Consignment Specialists in El Mirage, Arizona. The transaction establishes a platform and plan for a nationwide rollout of consignment exclusive locations and best practices integration into the Company’s existing dealership locations with consignment sales. It is anticipated to close in the fourth quarter of 2023.

The standalone consignment location is led by Marty Holman, a 25 year plus RV industry veteran who has excelled in roles ranging from Chief Financial Officer of a multi-store dealership group to owner-operator. Mr. Holman will spearhead the Company’s plan to ramp up efforts around consignment sales. The Company believes consignment units are an enhancement to its existing multi-year goal to reach $3 billion of used RV sales annually. Over the 36-month period ending June 30, 2023, the Company has more than doubled its used RV sales to just under $2 billion on a trailing 12-months basis.

Marcus Lemonis, Chairman and CEO of Camping World commented, “Marty Holman and the RV Arizona team have built an industry leading process around RV consignments, we expect to leverage these skills to supercharge our existing consignment business, improve returns on our used RV inventory, and further grow our used RV business towards the previously stated $3 billion annual goal.” Mr. Lemonis continued, “Growing our used RV business is one of our top revenue objectives, and any time we can increase inventory turns while reducing working capital, we believe it is win-win for our shareholders.”

Individuals interested in applying for a position may visit http://www.campingworldjobs.com/.

About Camping World Holdings, Inc.

Camping World Holdings, Inc., headquartered in Lincolnshire, IL, (together with its subsidiaries) is the World’s largest retailer of RVs and related products and services. Our vision is to build a long-term legacy business that makes RVing fun and easy. Our Camping World and Good Sam brands have been serving RV consumers since 1966. We strive to build long-term value for our customers, employees, and shareholders by combining a unique and comprehensive assortment of RV products and services with a national network of RV dealerships, service centers and customer support centers along with the industry’s most extensive online presence and a highly trained and knowledgeable team of employees serving our customers, the RV lifestyle, and the communities in which we operate. We also believe that our Good Sam organization and family of programs and services uniquely enable us to connect with our customers as stewards of the RV enthusiast community and the RV lifestyle. With RV sales and service locations in 42 states, Camping World has grown to become the prime destination for everything RV. For more information, visit www.CampingWorld.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning Camping World and other matters. All statements other than statements of historical facts contained in this press release may be forward-looking statements, including statements about the expected timing of and benefits from statements about our future business growth, anticipated store growth, strategic focuses, plans and objectives of management, the expected timing of the closure of and benefits from acquisitions and new store openings, products and services offered at existing and future locations. In some cases, you can identify forward-looking statements by terms such as ‘‘may,’’ ‘‘will,’’ ‘‘should,’’ ‘‘expects,’’ ‘‘plans,’’ ‘‘anticipates,’’ ‘‘could,’’ ‘‘intends,’’ ‘‘targets,’’ ‘‘projects,’’ ‘‘contemplates,’’ ‘‘believes,’’ ‘‘estimates,’’ ‘‘predicts,’’ ‘‘potential’’ or ‘‘continue’’ or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition, and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. You should carefully consider the risks and uncertainties that affect our business, including the risk that the acquisition may not close on the timeline expected or at all, as well as the other important risks described in our filings with the Securities and Exchange Commission (“SEC”), including under the caption “Risk Factors” in our Annual Report on Form 10-K filed for the year ended December 31, 2022. These forward-looking statements speak only as of the date of this communication. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our public announcements and filings with the SEC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230807729916/en/

Brett Andress

InvestorRelations@campingworld.com

Media Outlets:

PR-CWGS@CampingWorld.com

Source: Camping World

FAQ

What company is acquiring RV Arizona Consignment Specialists?

Camping World Holdings, Inc.

What is the purpose of the acquisition?

To establish a platform for nationwide rollout of consignment exclusive locations and enhance the company's used RV sales.

What is Camping World's goal for used RV sales annually?

$3 billion.