Lazydays Holdings, Inc. To Acquire Total Value RV

Rhea-AI Summary

Lazydays Holdings, Inc. (NASDAQ: LAZY) has signed a letter of intent to acquire Total Value RV, a leading RV dealership in Elkhart, Indiana. The acquisition is anticipated to close within 90 days and is part of Lazydays' strategy for geographic expansion. CEO William P. Murnane expressed excitement about joining the Elkhart community and strengthening partnerships with OEMs as a result of this acquisition. Total Value RV is recognized as Indiana's number one motorhome dealership, enhancing Lazydays' presence in a key RV manufacturing area.

Positive

• Acquisition of Total Value RV expected to accelerate geographic expansion.
• Total Value RV is the number one motorhome dealership in Indiana, expected to enhance market presence.
• Strengthening relationships with OEM partners due to proximity to RV manufacturing.

Negative

• None.

TAMPA, Fla., June 30, 2020 /PRNewswire/ -- Lazydays Holdings, Inc. (NASDAQCM: LAZY) ("Lazydays RV" or "Lazydays") has announced that it has signed a letter of intent to acquire Total Value RV, located in Elkhart, Indiana. Total Value RV is a premier RV dealership and the number one motorhome dealership in Indiana.  The acquisition of Total Value RV is expected to be finalized within 90 days.

"We are extremely pleased to announce our intent to acquire Total Value RV as we continue to execute our geographic expansion strategy," stated William P. Murnane, Chairman and CEO of Lazydays. "We are honored and humbled that Hank Schrock has chosen Lazydays to shepherd his longtime family business into the future.  We are thrilled to have Total Value RV join the Lazydays' family of dealerships.  The majority of the RVs Lazydays sells are manufactured in and around Elkhart; and we are very excited to become part of the Elkhart community and continue to work closely with our OEM partners."

About Lazydays

Lazydays, The RV Authority®, is an iconic brand in the RV industry. Home of the world's largest recreational dealership, based on 126 acres outside of Tampa, Florida, Lazydays has dealerships located at The Villages, Florida; Tucson and Phoenix, Arizona; Minneapolis, Minnesota; Knoxville, Tennessee; and Loveland and Denver, Colorado. Lazydays also has a dedicated Service Center location near Houston, Texas. Offering the nation's largest selection of leading RV brands, Lazydays features over 3,000 new and pre-owned RVs, more than 400 service bays and two on-site campgrounds with over 700 RV campsites. In addition, Lazydays RV Accessories & More™ stores offer thousands of accessories and hard-to-find parts at dealership locations.

Since 1976, Lazydays has built a reputation for providing an outstanding customer experience with exceptional service and product expertise, along with being a preferred place to rest and recharge with other RVers. Lazydays consistently provides the best RV purchase, service, and ownership experience, which is why RVers and their families keep returning to Lazydays year after year, calling it their "home away from home."

Lazydays Holdings, Inc. is a publicly listed company on the NASDAQ stock exchange under the ticker "LAZY." Additional information can be found at https://www.lazydays.com/investor-relations.

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 regarding the impact of its recently acquired dealership in Phoenix, Arizona, and its greenfield start-up near 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 Total Value RV?

The acquisition aims to enhance Lazydays' geographic expansion and strengthen its presence in the RV market.

When is Lazydays expecting to finalize its acquisition of Total Value RV?

Lazydays expects to finalize the acquisition within 90 days of signing the letter of intent.

How will the acquisition of Total Value RV impact Lazydays' operations?

The acquisition is expected to expand Lazydays' market reach and improve relationships with OEM partners in Elkhart, Indiana.

What is significant about Total Value RV?

Total Value RV is recognized as the leading motorhome dealership in Indiana, which positions Lazydays advantageously in the market.