LAZYDAYS ANNOUNCES ACQUISITION OF ORANGEWOOD RV CENTER IN SURPRISE, ARIZONA

Rhea-AI Summary

Lazydays (LAZY) announces the acquisition of Orangewood RV Center, now renamed 'Lazydays RV of Phoenix at Arrowhead', marking its 24th location in the Western region. The new store is expected to generate approximately $40 million in annualized revenue, contributing to over $300 million from recent acquisitions and greenfield locations in 2023.

Positive

• Expansion of nationwide network with 24th location
• Expected $40 million annualized revenue from new store
• Consolidated $300 million revenue from recent acquisitions and greenfield locations

Negative

• None.

TAMPA, Fla., Nov. 22, 2023 /PRNewswire/ -- Lazydays (NasdaqCM: LAZY) is pleased to announce the acquisition of Orangewood RV Center, an RV dealership located in Surprise, Arizona. The store has been renamed "Lazydays RV of Phoenix at Arrowhead" and marks the 24th location in its growing nationwide network, strengthening its presence in the Western region. Lazydays expects the new store to generate approximately $40 million in annualized revenue. In 2023, Lazydays has completed five acquisitions and opened three greenfield locations which are expected to generate over $300 million in annualized revenue. The location will continue to offer high quality new inventory from Grand Design, Keystone, KZ, and Starcraft.

By acquiring Orangewood RV and its dedicated team of employees, Lazydays aims to bring even more convenience, choice, and top-tier RV options to its valued customers in Arizona. Lazydays would also like to thank the seller, Mark Treacy, for his efforts in making this acquisition incredibly smooth. 

About Lazydays 
Lazydays has been a prominent player in the RV industry since its inception in 1976, earning a stellar reputation for delivering exceptional RV sales, service, and ownership experiences. Its commitment to excellence has led to enduring relationships with RVers and their families, who rely on Lazydays for all their RV needs. 
With a strategic approach to rapid expansion, Lazydays is growing its network through both acquisitions and new builds. Its wide selection of RV brands from top manufacturers, state-of-the-art service facilities, and an extensive range of accessories and parts ensure that Lazydays is the go-to destination for RV enthusiasts seeking everything they need for their journeys on the road. Whether you are a seasoned RVer or just starting your adventure, Lazydays' dedicated team is here to provide outstanding support and guidance, making your RV lifestyle truly extraordinary.
Lazydays is a publicly listed company on the Nasdaq stock exchange under the ticker "LAZY." 

Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the "Safe-Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward looking statements include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future acquisitions and business strategy, and often contain words such as "project," "outlook," "expect," "anticipate," "intend," "plan," "believe," "estimate," "may," "seek," "would," "should," "likely," "goal," "strategy," "future," "maintain," "continue," "remain," "target" or "will" and similar references to future periods. Examples of forward-looking statements in this press release include, among others, statements regarding: 

• Our ability to improve store performance; 
• Anticipated acquisition opportunities and additions of dealership locations to our portfolio in the future, and our ability to improve earnings and achieve returns on investments; 
• Anticipated revenues from acquired and open point stores; and 
• Anticipated availability of liquidity from our credit facility and unfinanced operating real estate. 

By their nature, forward-looking statements involve risks and uncertainties because they relate to events that depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity and development of the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements in this press release. The risks and uncertainties that could cause actual results to differ materially from estimated or projected results include, without limitation, future economic and financial conditions (both nationally and locally), changes in customer demand, our relationship with, and the financial and operational stability of, vehicle manufacturers and other suppliers, risks associated with our indebtedness (including available borrowing capacity, compliance with financial covenants and ability to refinance or repay indebtedness on favorable terms), acts of God or other incidents which may adversely impact our operations and financial performance, government regulations, legislation and others set forth throughout "Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" and in "Part I, Item 1A. Risk Factors" of our most recent Annual Report on Form 10-K, and from time to time in our other filings with the SEC. We urge you to carefully consider this information and not place undue reliance on forward-looking statements. We undertake no duty to update our forward-looking statements, including our earnings outlook, which are made as of the date of this release.
Contact: 
Investor Relations 
investors@lazydays.com 

View original content to download multimedia:https://www.prnewswire.com/news-releases/lazydays-announces-acquisition-of-orangewood-rv-center-in-surprise-arizona-301995403.html

SOURCE Lazydays

FAQ

What is the name of the company announcing the acquisition of Orangewood RV Center?

Lazydays (LAZY) has announced the acquisition of Orangewood RV Center.

Where is the newly acquired RV dealership located?

The Orangewood RV Center, now renamed 'Lazydays RV of Phoenix at Arrowhead', is located in Surprise, Arizona.

How many locations does Lazydays have after the acquisition?

The acquisition marks the 24th location in Lazydays' growing nationwide network.

What is the expected annualized revenue from the new store?

Lazydays expects the new store to generate approximately $40 million in annualized revenue.

How much revenue is expected from recent acquisitions and greenfield locations in 2023?

The company expects over $300 million in annualized revenue from recent acquisitions and greenfield locations in 2023.