Lazydays Holdings, Inc. To Acquire Chilhowee RV Center

Rhea-AI Summary

Lazydays Holdings, Inc. (NASDAQ: LAZY) has announced its acquisition of Chilhowee RV Center, a dealership in Knoxville, Tennessee, with over 53 years of family ownership. The acquisition aligns with Lazydays' strategy for geographic expansion in the RV market and is expected to be finalized in 30 to 60 days. Chilhowee RV Center offers popular RV brands such as Airstream and Winnebago, enhancing Lazydays' portfolio. Currently, Lazydays operates eleven dealerships across various states and is actively expanding through acquisitions and new locations.

Positive

• Acquisition of Chilhowee RV Center increases market presence in Tennessee.
• Expands inventory with popular RV brands Airstream, Winnebago, Forest River, and Thor.
• Acquisition supports Lazydays' geographic expansion strategy.

Negative

• None.

TAMPA, Fla., Feb. 2, 2021 /PRNewswire/ -- Lazydays Holdings, Inc. (NASDAQCM: LAZY) ("Lazydays RV" or "Lazydays") has signed an agreement to acquire Chilhowee RV Center.  Located just outside Knoxville, Tennessee, Chilhowee RV Center has been in business and under the same family ownership for over 53 years.  The dealership 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 Center has a wide selection of outstanding RV brands including Airstream, Winnebago, Forest River and Thor. The acquisition of Chilhowee RV Center is expected to be finalized in 30 to 60 days.

"We are extremely pleased to announce the acquisition of Chilhowee RV Center as we continue to execute our geographic expansion strategy," stated William P. Murnane, Chairman and CEO of Lazydays. "We are honored and humbled that Leland and Fred Waggoner have chosen Lazydays to shepherd their longtime family business into the future.  Leland and Fred have built an outstanding team that is committed to providing an exceptional customer experience and is a perfect fit for Lazydays.  We are thrilled to have Chilhowee RV Center become part of the Lazydays' family of dealerships."

Lazydays currently operates eleven dealerships in Florida (2), Colorado (2), Arizona (2), Minnesota (1), Tennessee (2), 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 Minnesota and acquire Sprad's RV in Reno, Nevada. 

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 and Burns Harbor, Indiana; its planned acquisition in Reno, Nevada; and its greenfield start-ups near Houston, Texas, 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 

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SOURCE Lazydays Holdings, Inc.

FAQ

What is the significance of Lazydays' acquisition of Chilhowee RV Center?

The acquisition enhances Lazydays' market presence in Tennessee and adds popular RV brands to its inventory.

When is the acquisition of Chilhowee RV Center expected to be finalized?

The acquisition is expected to be finalized within 30 to 60 days.

How many dealerships does Lazydays operate currently?

Lazydays currently operates eleven dealerships across several states.

What are Lazydays' future expansion plans?

Lazydays plans to continue expanding through acquisitions and new dealership locations.