LAZYDAYS AND GENERAL RV COMPLETE FT. PIERCE, FLORIDA TRANSACTION

Rhea-AI Summary

Lazydays Holdings (GORV) has completed the asset and real estate sale of its Ft. Pierce, Florida location to General RV Center. This transaction marks the second previously announced divestiture, with the final remaining sale in Longmont, Colorado expected to close in the coming weeks. The sale aligns with Lazydays' strategy to streamline operations and optimize its dealership footprint while reducing debt and improving cash position. For General RV, the acquisition enhances their existing Fort Pierce Supercenter operations established in 2023, providing an expanded facility with strategic I-95 access. General RV has experienced significant growth, nearly doubling its Supercenter count nationwide over the past three years, now operating more than 20 locations across nine states, with their most recent expansion being the Mesa, Arizona location acquired in May 2025.

AI-generated analysis. Not financial advice.

Positive

• Sale helps Lazydays reduce debt and improve cash position
• Strategic streamlining of operations and optimization of dealership footprint
• Smooth transaction process with one more divestiture pending completion
• General RV's expansion demonstrates strong market presence with over 20 locations across 9 states

Negative

• Reduction in Lazydays' market presence through location divestiture
• Loss of revenue stream from Ft. Pierce location

News Market Reaction – GORV

-5.59%

1 alert

-5.59% News Effect

On the day this news was published, GORV declined 5.59%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

TAMPA, Fla., June 6, 2025 /PRNewswire/ -- Lazydays Holdings, Inc. (NASDAQCM: GORV) ("Lazydays" or the "Company") announced today that it has closed on the asset sale and real estate sale of its Ft. Pierce, Florida location to General R.V. Center, Inc. ("General RV"). The companies expect to complete the remaining divestiture in Longmont, Colorado in the coming weeks.

"We have truly appreciated the work and cooperation demonstrated by the Lazydays team to help us expand our ability to provide premier service to our Fort Pierce customers," said General RV CEO and third-generation family owner Loren Baidas. "When we opened our existing Fort Pierce Supercenter in 2023, we never stopped looking for ways to make it even better for our current and future customers. This acquisition does just that with a large Supercenter facility and easily accessible location on I-95."

Ron Fleming, Interim CEO of Lazydays, said, "We have completed our second previously announced sale of our location in Ft. Pierce, Florida to General RV. The closing of the Ft. Pierce sale continues to streamline our operations and right size our dealership footprint, while paying off meaningful debt on our balance sheet and bringing cash to our balance sheet. We are again pleased with the smooth process and look forward to working with General RV to complete the last remaining divestiture."

In the past three years, General RV has nearly doubled its number of Supercenters nationwide offering sales and service of thousands of RVs ranging from affordable travel trailers to luxury motorhomes. The third-generation family-owned company currently has more than 20 locations in nine states including Florida, Illinois, Ohio, Virginia, Utah, North Carolina, Pennsylvania, Arizona and Michigan, where its corporate offices are located. The most recent addition to the General RV family is the Mesa, Arizona location acquired in May 2025.

About Lazydays

Lazydays has been a prominent player in the RV industry since our inception in 1976, earning a stellar reputation for delivering exceptional RV sales, service, and ownership experiences. Our commitment to excellence has led to enduring relationships with RVers and their families who rely on us for all of their RV needs.

Our wide selection of RV brands from top manufacturers, state-of-the-art service facilities, and an extensive range of accessories and parts ensure that Lazydays is the go-to destination for RV enthusiasts seeking everything they need for their journeys on the road. Whether you're a seasoned RVer or just starting your adventure, our dedicated team is here to provide outstanding support and guidance, making your RV lifestyle truly extraordinary.

Lazydays is a publicly listed company on the Nasdaq stock exchange under the ticker "GORV."

About General RV

Founded in Michigan in 1962, General RV Center is the nation's premier RV dealer. The company operates more than 20 full-service dealerships in Michigan, Illinois, Ohio, Virginia, Florida, Utah, North Carolina, Arizona and Pennsylvania. Each location offers the largest selection of RVs for sale, state-of-the-art RV service facilities and retail RV parts and accessories. Visit GeneralRV.com for more information.

Forward Looking Statements

This press release includes "forward-looking statements" within the meaning of the "Safe-Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward looking statements include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future financing transactions and business strategy, and often contain words such as "project," "outlook," "expect," "anticipate," "intend," "plan," "believe," "estimate," "may," "seek," "would," "should," "likely," "goal," "strategy," "future," "maintain," "continue," "remain," "target" or "will" and similar references to future periods. Examples of forward-looking statements in this press release include, among others, the benefits of the potential transaction described herein and the future financial performance of the Company following such transaction.

By their nature, forward-looking statements involve risks and uncertainties because they relate to events that depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity and development of the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements in this press release. The risks and uncertainties that could cause actual results to differ materially from estimated or projected results include, without limitation, the ability of the parties to successfully close future transactions referenced herein (i.e. the sale of our Longmont, Colorado dealership assets), future economic and financial conditions (both nationally and locally), changes in customer demand, our relationship with, and the financial and operational stability of, vehicle manufacturers and other suppliers, risks associated with our indebtedness (including our ability to obtain further waivers or amendments to credit agreements, the actions or inactions of our lenders, available borrowing capacity, our compliance with financial covenants and our ability to refinance or repay indebtedness on terms acceptable to us), acts of God or other incidents which may adversely impact our operations and financial performance, government regulations, legislation and others set forth throughout under the headers "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" and in the notes to our financial statements, in our most recent Quarterly Report on Form 10-Q, Annual Report on Form 10-K and from time to time in our other filings with the U.S. Securities and Exchange Commission. We urge you to carefully consider this information and not place undue reliance on forward-looking statements. We undertake no duty to update our forward-looking statements, which are made as of the date of this release.

Contact
investors@lazydays.com

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SOURCE Lazydays RV

FAQ

What is the significance of Lazydays Holdings (GORV) selling its Ft. Pierce location to General RV?

The sale is part of Lazydays' strategy to streamline operations, reduce debt, and improve cash position while optimizing its dealership footprint

How many locations does General RV currently operate after the Ft. Pierce acquisition?

General RV operates more than 20 locations across nine states, including Florida, Illinois, Ohio, Virginia, Utah, North Carolina, Pennsylvania, Arizona, and Michigan

What is the next planned divestiture for Lazydays Holdings?

Lazydays plans to complete the sale of its Longmont, Colorado location to General RV in the coming weeks

How has General RV expanded in recent years?

General RV has nearly doubled its number of Supercenters nationwide in the past three years, with their most recent acquisition being the Mesa, Arizona location in May 2025

When did General RV first establish its presence in Fort Pierce?

General RV opened their initial Fort Pierce Supercenter in 2023