Camping World Set to Acquire Three Locations in Texas and Oklahoma
Camping World Holdings, Inc. (NYSE: CWH) is set to acquire Genuine RV, expanding its presence in Texas and Oklahoma. The acquisition will increase the company's Texas location count to 13 and its Oklahoma location count to six. The transaction is expected to close in the second quarter of 2024. Camping World aims to increase its dealership count to over 320 locations in the next five years through acquisitions, new store openings, and manufacturer exclusive locations.
The acquisition of Genuine RV by Camping World Holdings represents a strategic expansion within the recreational vehicle (RV) industry. This move is a clear indicator of Camping World's aggressive growth strategy, aiming to solidify its position as a leading RV dealer in the United States. The addition of three new locations in Texas and Oklahoma enhances the company's geographical footprint and customer reach in the region.
From a market perspective, this expansion could potentially lead to increased market share and revenue growth for Camping World. It also signifies a competitive edge by adding popular RV lines from Grand Design and Keystone to their offerings. The expansion aligns with the broader industry trend of consolidation, where larger players are acquiring smaller ones to leverage economies of scale and enhance their service networks.
However, investors should monitor the integration process closely as it can impact operational efficiency and customer experience. The success of the acquisition will largely depend on effective assimilation of the new locations and the management's ability to leverage synergies.
The financial implications of Camping World's acquisition of Genuine RV are multifaceted. The transaction is likely to be financed through a combination of cash reserves, debt, or a mix of both. Investors should assess the terms of the deal once disclosed, as they will affect the company's balance sheet and leverage ratios. Additionally, the increase in location count should be scrutinized for its impact on capital expenditures and operating costs.
In the short-term, the market may react to the news of the acquisition with optimism, potentially boosting Camping World's stock price if the deal is perceived as accretive to earnings. Over the long-term, the company's performance will be measured by its ability to integrate the new locations effectively and realize cost synergies.
It is crucial for stakeholders to consider the return on investment and how the acquisition aligns with Camping World's projected growth trajectory. The company's goal to reach over 320 locations in five years sets a clear benchmark for expansion and profitability metrics that need to be achieved.
01/08/2024 - 07:30 AM
LINCOLNSHIRE, Ill. --(BUSINESS WIRE)--
Camping World Holdings, Inc. (NYSE: CWH) (“Camping World”), the World’s Largest Recreational Vehicle Dealer, today announced that it is set to acquire Genuine RV, with locations in Texarkana and Nacogdoches, Texas , and Idabel, Oklahoma . The transaction is anticipated to close in the second quarter of 2024 and will increase the Company’s Texas location count to 13, and its Oklahoma location count to six.
Marcus Lemonis, Chairman and CEO of Camping World commented, “The acquisition of Genuine RV builds out our presence in East Texas , with three stores and the addition of lines from Grand Design and Keystone. We continue to be focused on our goal to increase our dealership count to over 320 locations over the next five years, through a combination of acquisitions, new store openings, and manufacturer exclusive locations.”
Individuals interested in applying for a position with Camping World may visit http://www.campingworldjobs.com/ .
About Camping World Holdings, Inc.
Camping World Holdings, Inc., headquartered in Lincolnshire, IL , (together with its subsidiaries) is the World’s largest retailer of RVs and related products and services. Our vision is to build a long-term legacy business that makes RVing fun and easy. Our Camping World and Good Sam brands have been serving RV consumers since 1966. We strive to build long-term value for our customers, employees, and shareholders by combining a unique and comprehensive assortment of RV products and services with a national network of RV dealerships, service centers and customer support centers along with the industry’s most extensive online presence and a highly trained and knowledgeable team of employees serving our customers, the RV lifestyle, and the communities in which we operate. We also believe that our Good Sam organization and family of programs and services uniquely enable us to connect with our customers as stewards of the RV enthusiast community and the RV lifestyle. With RV sales and service locations in 43 states, Camping World has grown to become the prime destination for everything RV. For more information, visit www.CampingWorld.com .
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning Camping World and other matters. All statements other than statements of historical facts contained in this press release may be forward-looking statements including statements about the expected pace of growth, timing of the closure of and benefits from the announced acquisition, future store count, future market position, and product offerings at future locations. In some cases, you can identify forward-looking statements by terms such as ‘‘may,’’ ‘‘will,’’ ‘‘should,’’ ‘‘expects,’’ ‘‘plans,’’ ‘‘anticipates,’’ ‘‘could,’’ ‘‘intends,’’ ‘‘targets,’’ ‘‘projects,’’ ‘‘contemplates,’’ ‘‘believes,’’ ‘‘estimates,’’ ‘‘predicts,’’ ‘‘potential’’ or ‘‘continue’’ or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition, and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. You should carefully consider the risks and uncertainties that affect our business, including the risk that the acquisition may not close on the timeline expected or at all, as well as the other important risks described in our filings with the Securities and Exchange Commission (“SEC”), including under the caption “Risk Factors” in our Annual Report on Form 10-K filed for the year ended December 31, 2022. These forward-looking statements speak only as of the date of this communication. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our public announcements and filings with the SEC.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240108125657/en/
Brett Andress
InvestorRelations@campingworld.com
Media Outlets:
PR-CWGS@CampingWorld.com
Source: Camping World
What is the latest acquisition announced by Camping World Holdings, Inc.?
Camping World Holdings, Inc. (NYSE: CWH) is set to acquire Genuine RV, expanding its presence in Texas and Oklahoma.
When is the anticipated closing date for the acquisition?
The transaction is expected to close in the second quarter of 2024.
How many locations will the acquisition add to Camping World's Texas and Oklahoma presence?
The acquisition will increase the company's Texas location count to 13 and its Oklahoma location count to six.
What is Camping World's goal for increasing its dealership count in the next five years?
Camping World aims to increase its dealership count to over 320 locations in the next five years through acquisitions, new store openings, and manufacturer exclusive locations.
