LAZYDAYS ENTERS NEVADA WITH ACQUISITION OF FINDLAY RV

Rhea-AI Summary

Lazydays (LAZY) announced its acquisition of Findlay RV located in Las Vegas, Nevada, marking its first acquisition of 2023. The store is strategically positioned near four top RV market states, enhancing Lazydays' operations in Arizona. The acquisition is expected to contribute approximately $40 million in annualized revenue once fully operational. Concurrently, Lazydays will offer the Tiffin brand in Las Vegas, expanding its existing lineup that includes Coachmen and Winnebago. This acquisition adds to Lazydays’ growth strategy, increasing its total locations to nineteen.

Positive

• Acquisition of Findlay RV expected to generate $40 million in annualized revenue.
• Strategic location enhances regional operations, complementing existing Arizona presence.
• Addition of Tiffin brand expands product offerings in the Las Vegas market.

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• None.

TAMPA, Fla., Feb. 16, 2023 /PRNewswire/ -- Lazydays (NasdaqCM: LAZY) announced today our first acquisition of 2023 with the purchase of Findlay RV in Las Vegas, Nevada. The store is strategically located bordering 4 of the top 15 RV market states, and compliments our existing operations in Arizona.

Concurrent with the acquisition, we have been awarded the Tiffin brand for the Las Vegas market that will be added to the existing lineup of Coachmen, Winnebago, Forest River and others.

The store is expected to add approximately $40 million in annualized revenue at steady state and represents our nineteenth location.

About Lazydays
As an iconic brand in the RV industry, Lazydays, The RV Authority, consistently provides the best RV sales, service, and ownership experience, which is why RVers and their families become Customers for Life. Lazydays continues to add locations at a rapid pace as it executes its geographic expansion strategy that includes both acquisitions and greenfields.

Since 1976, Lazydays has built a reputation for providing an outstanding customer experience with exceptional service excellence and unparalleled product expertise, along with being a preferred place to rest and recharge with other RVers. By offering the largest selection of RV brands from the nation's leading manufacturers, state-of-the-art service facilities, and thousands of accessories and hard-to-find parts, Lazydays provides everything RVers need and want.

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:
Angela Johnson
+1 (813) 204-4099

 

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SOURCE Lazydays

FAQ

What is the significance of Lazydays' acquisition of Findlay RV?

The acquisition is expected to add approximately $40 million in annualized revenue and expand Lazydays' market presence in Nevada.

How will the acquisition of Findlay RV affect Lazydays' revenue?

The acquisition is projected to contribute about $40 million in annualized revenue at steady state.

What brands will be offered at the Findlay RV location?

The Findlay RV location will feature brands including Tiffin, Coachmen, Winnebago, and Forest River.

How many locations does Lazydays have after this acquisition?

With the addition of Findlay RV, Lazydays now operates a total of nineteen locations.