Lazydays Holdings, Inc. To Acquire B. Young RV
Lazydays Holdings, Inc. (NASDAQ: LAZY) announced a letter of intent to acquire B. Young RV, which operates two dealerships in Portland, Oregon, and Vancouver, Washington. This acquisition aligns with Lazydays' strategy for geographic expansion in the Pacific Northwest, a significant RV market. The deal is expected to close within 90 days. Lazydays currently has twelve dealerships across several states, aiming to enhance its presence and market share in the RV industry.
- Acquisition of B. Young RV enhances geographic reach into the Pacific Northwest, one of the largest RV markets.
- B. Young RV has existing brand recognition and a strong operational foundation.
- Strategic alignment with Lazydays' geographic expansion strategy, potentially leading to increased market share and revenue growth.
- None.
TAMPA, Fla., May 12, 2021 /PRNewswire/ -- Lazydays Holdings, Inc. (NASDAQCM: LAZY) ("Lazydays RV" or "Lazydays") has announced that it has signed a letter of intent to acquire BYRV, Inc. and BYRV Washington, Inc. (collectively "B. Young RV"). B. Young RV has two dealerships strategically located in Portland, Oregon and Vancouver, Washington. B. Young RV has a large presence in the rapidly growing Oregon and Washington markets offering a wide selection of outstanding RV brands including Tiffin, Newmar, Grand Design, Thor, and Forest River. The acquisition of B. Young RV is expected to be finalized within 90 days.
"We are extremely pleased to announce our intent to acquire B. Young RV as we continue to execute our geographic expansion strategy," stated William P. Murnane, Chairman and CEO of Lazydays. "The Pacific Northwest is one of the largest RV markets in the country, and Bruce Young has built an outstanding organization and a very well run operation. We are delighted that Bruce has chosen Lazydays to guide B. Young RV into the future, and we will do our best to honor his outstanding stewardship and leadership with continued success. We are very excited to welcome B. Young RV and its tremendous team into the Lazydays' family of dealerships."
"I am very excited to hand the keys to B. Young RV over to Lazydays," commented Bruce Young, owner of B. Young RV. "I have reached a point in my life where I want to focus on and enjoy my many interests outside the RV business. The culture of Lazydays and its focus on customers and employees makes it a perfect match for the outstanding team we have built at B. Young RV. I have great love and admiration for the B. Young RV team and want to thank them for helping build and grow these wonderful dealerships. I am confident the B. Young RV team and Lazydays will do great things together," stated Mr. Young.
Lazydays currently operates twelve dealerships in Florida, Colorado, Arizona, Minnesota, Tennessee, and Indiana; and operates a dedicated Service Center location near Houston, Texas.
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 and its greenfield start-ups near Houston, Texas and Nashville, Tennessee, 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
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SOURCE Lazydays Holdings, Inc.
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