Lazydays Holdings, Inc. To Acquire Sprad's RV

Rhea-AI Summary

Lazydays Holdings, Inc. (NASDAQCM: LAZY) has signed a letter of intent to acquire Sprad's RV in Reno, Nevada, expanding its presence in a growing market. The acquisition, aimed for completion within 30 to 60 days, will enhance Lazydays' offerings with Sprad's selection of top RV brands, including Grand Design and Thor. CEO William P. Murnane expressed enthusiasm about the acquisition and the strategic growth it represents. This move aligns with Lazydays' ongoing geographic expansion strategy, further solidifying its footprint in the RV industry.

Positive

• Acquisition of Sprad's RV strengthens market position in northern Nevada.
• Sprad's RV offers a diverse selection of leading RV brands.
• Planned completion of acquisition within 30 to 60 days supports swift expansion strategy.

Negative

• None.

TAMPA, Fla., Jan. 21, 2021 /PRNewswire/ -- Lazydays Holdings, Inc. (NASDAQCM: LAZY) ("Lazydays RV" or "Lazydays") has announced that it has signed a letter of intent to acquire Sprad's RV, located in Reno, Nevada. Sprad's RV has a strong presence in the rapidly growing Reno, Nevada market. Sprad's has a wide selection of outstanding RV brands including Grand Design, Thor, Forest River and Lance.  The acquisition of Sprad's is expected to be finalized within 30 to 60 days.

"We are extremely pleased to announce our intent to acquire Sprad's RV as we continue to execute our geographic expansion strategy," stated William P. Murnane, Chairman and CEO of Lazydays. "Sprad's has served the rapidly growing northern Nevada market for over 15 years and is well positioned for significant growth.  Patrick and Laura West have built an outstanding organization and a very well run operation.  We are thankful and honored that they have chosen Lazydays to guide their business 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 Sprad's RV and its tremendous team into the Lazydays' family of dealerships."

Lazydays currently operates eleven 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 Lazydays' latest acquisition announcement?

Lazydays announced its intent to acquire Sprad's RV located in Reno, Nevada.

When is Lazydays expected to finalize the acquisition of Sprad's RV?

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

How does the Sprad's RV acquisition impact Lazydays' business?

The acquisition expands Lazydays' market presence in northern Nevada and enhances its product offerings.

What RV brands are offered by Sprad's RV?

Sprad's RV offers brands like Grand Design, Thor, Forest River, and Lance.

Who is the CEO of Lazydays and what did he say about the acquisition?

CEO William P. Murnane expressed excitement about acquiring Sprad's RV as part of Lazydays' growth strategy.