Lazydays Holdings, Inc. Completes Acquisition of Chilhowee RV Center
Lazydays Holdings, Inc. (NASDAQCM: LAZY) announced its acquisition of Chilhowee RV Center near Knoxville, Tennessee, on March 23, 2021. This move supports Lazydays' geographic expansion strategy, allowing it to establish dedicated Airstream dealerships in Knoxville and Nashville. The acquisition is part of a broader growth trend, marking the fifth such transaction in eleven months. Lazydays operates multiple dealerships across several states and plans further expansion, including a new location in Monticello, Minnesota, and another acquisition in Reno, Nevada.
- Acquisition of Chilhowee RV enhances presence in Eastern Tennessee market.
- Expansion supports the opening of new dedicated Airstream dealerships.
- Marks fifth acquisition in eleven months, indicating a successful growth strategy.
- None.
TAMPA, Fla., March 24, 2021 /PRNewswire/ -- Yesterday, March 23rd, Lazydays Holdings, Inc. (NASDAQCM: LAZY) ("Lazydays RV" or "Lazydays") completed its acquisition of Chilhowee RV Center ("Chilhowee RV"), a premier RV dealership located just outside Knoxville, Tennessee. It is a short drive from the entrance to Great Smoky Mountains National Park, the most visited National Park in America with over 11 million annual visitors. Chilhowee RV has a wide selection of outstanding RV brands including Airstream, Winnebago, Forest River and Thor.
"We are extremely pleased to complete this acquisition and continue to execute on our geographic expansion strategy," stated William P. Murnane, Chairman and CEO of Lazydays. "This acquisition expands our footprint and product offerings in the Eastern Tennessee market, and allows for Lazydays to open standalone dedicated Airstream dealerships in Knoxville and Nashville. I am also delighted to welcome Leland Waggoner, the former owner of Chilhowee RV, and his outstanding team to the Lazydays family," commented Murnane.
Recently the Company has been successful accelerating its rate of geographic expansion. Chilhowee RV represents the Company's fifth completed acquisition or opening over the last eleven months. This acquisition will be followed shortly by the completion of the Reno, Nevada acquisition and the opening of the Monticello, Minnesota location this spring. The Company continues to work a strong pipeline of expansion opportunities that includes both acquisitions and greenfields.
Lazydays currently operates twelve dealerships in Florida (2), Colorado (2), Arizona (2), Minnesota (1), Tennessee (3), and Indiana (2); and operates a dedicated Service Center location near Houston, Texas. It recently announced its intent to add a second dealership location in Monticello, Minnesota and acquire Sprad's RV in Reno, Nevada and open dedicated Airstream locations in Ramsey, Minnesota and Knoxville and Nashville, Tennessee.
ABOUT LAZYDAYS RV
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 RV 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 RV provides everything RVers need and want.
Lazydays Holdings, Inc. is a publicly listed company on the Nasdaq stock exchange under the ticker "LAZY."
Forward–Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements describe Lazydays future plans, projections, strategies and expectations, including statements regarding Lazydays' expectations for future operating results, its expectations regarding the impact of its acquisition of its recently acquired dealership in Phoenix, Arizona, Elkhart, Indiana, and Burns Harbor, Indiana; its planned acquisitions in Reno, Nevada and Knoxville, Tennessee; and its greenfield start-ups near Houston, Texas and Nashville, Tennessee, and Monticello, Minnesota; and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of Lazydays. Actual results could differ materially from those projected due to various factors, including economic conditions generally, conditions in the credit markets and changes in interest rates, conditions in the capital markets, the global impact of the pandemic outbreak of coronavirus (COVID-19) and other factors described from time to time in Lazydays' SEC reports and filings, which are available at www.sec.gov. Forward-looking statements contained in this news release speak only as of the date of this news release, and Lazydays undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances, unless otherwise required by law.
News Contact:
+1 (813) 204-4099
investors@lazydays.com
View original content to download multimedia:http://www.prnewswire.com/news-releases/lazydays-holdings-inc-completes-acquisition-of-chilhowee-rv-center-301254441.html
SOURCE Lazydays Holdings, Inc.
FAQ
What is the significance of Lazydays' acquisition of Chilhowee RV?
When did Lazydays acquire Chilhowee RV Center?
What is Lazydays' strategic plan following the acquisition?
How many dealerships does Lazydays operate now?
What future expansions does Lazydays have planned?
