Lazydays Holdings, Inc. To Acquire Burlington RV Superstore

Rhea-AI Summary

Lazydays Holdings (Nasdaq: LAZY) has signed a letter of intent to acquire Burlington RV Superstore in Sturtevant, Wisconsin. This strategic acquisition is part of Lazydays' geographic expansion strategy into the lucrative RV markets of Eastern Wisconsin and Northern Illinois. Burlington RV, a leading RV dealership with a 50-year legacy, offers a diverse selection of RV brands. The acquisition is expected to finalize within 90 days, marking an important step in Lazydays' growth trajectory.

Positive

• Acquisition of Burlington RV enhances geographic presence in key RV markets.
• Burlington RV is a well-established dealership with a strong operational track record.
• Transaction aligns with Lazydays' strategy for rapid location expansion.

Negative

• None.

TAMPA, Fla., June 14, 2021 /PRNewswire/ -- Lazydays Holdings, Inc. (NasdaqCM: LAZY) ("Lazydays RV" or "Lazydays") has announced that it has signed a letter of intent to acquire Burlington RV Superstore ("Burlington RV").   Burlington RV is located in Sturtevant, Wisconsin and is strategically located between the Milwaukee and Chicago markets.  Burlington RV offers a wide selection of outstanding RV brands including Newmar, Grand Design, Thor, Forest River, Jayco, and Coachmen.  The acquisition is expected to be finalized within 90 days.

"We are extremely pleased to announce our intent to acquire Burlington RV as we continue to execute our geographic expansion strategy," stated William P. Murnane, Chairman and CEO of Lazydays. "Eastern Wisconsin and Northern Illinois are very attractive RV markets. For more than 50 years, the Wegge family has built an outstanding organization and a very well run operation.  We are delighted that Tim and Brenda Wegge have chosen Lazydays to guide Burlington RV into the future, and we will do our best to honor their outstanding stewardship and leadership with continued success.  We are very excited to welcome Burlington RV and its tremendous team into the Lazydays' family of dealerships."

"We couldn't be prouder of what our family and employees have built over the past 50 years," commented Tim and Brenda Wegge, owners of Burlington RV Superstore.  "Burlington RV Superstore is the premier RV dealership in our market and we owe its success to our incredible team and their commitment and dedication.  We have reached a point in our life where we want to focus on and enjoy our many interests outside the RV business.  We had options on how to exit our family business and it was important to us that the new owners have the same customer and employee centric philosophy.  The culture of Lazydays and its focus on customers and employees makes it a perfect match for the outstanding team we have built at Burlington RV.  We have great love and admiration for our team, and want to thank them for helping build and grow Burlington RV.  The Burlington RV team and Lazydays will do great things together."

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.

FAQ

What is the purpose of Lazydays' acquisition of Burlington RV?

The acquisition aims to strengthen Lazydays' geographic presence in the lucrative RV markets of Eastern Wisconsin and Northern Illinois.

When is Lazydays expected to finalize the acquisition of Burlington RV?

The acquisition is expected to be finalized within 90 days from the announcement date, June 14, 2021.

How does the acquisition of Burlington RV impact Lazydays' market strategy?

This acquisition is part of Lazydays' geographic expansion strategy, helping enhance its operations and customer reach in the RV industry.

What brands does Burlington RV Superstore offer?

Burlington RV offers a wide selection of RV brands including Newmar, Grand Design, Thor, Forest River, Jayco, and Coachmen.

Who has owned Burlington RV Superstore prior to the acquisition?

Burlington RV was owned and operated by the Wegge family, who have built a strong reputation in the RV market over the past 50 years.