In November 2024, Camping World reached an agreement with Lazydays to purchase seven Lazydays dealerships. As it turns out, Camping World only bought five.
The country’s largest dealer chain said Monday it did not elect to close the purchase of Lazydays’ locations in Council Bluffs, Iowa, or Portland, Oregon.
Camping World said the stores “did not meet the company’s standards” to be acquired.
Lazydays Chief Operating Officer Amber Dillard said because the stores did not change hands, Lazydays will continue to operate the locations going forward, “ensuring we offer our customers the best sales and service experience they have come to recognize in these two locations.”
Since November, Camping World bought former Lazydays stores in Elkhart, Indiana; Murfreesboro, Tennessee; Sturtevant, Wisconsin; Surprise, Arizona; and Vancouver, Washington.
The purchase agreement signed in November 2024 called for Camping World to provide a $10 million nonrefundable deposit, which Lazydays would exchange for 9,708,737 shares of common stock upon the transaction’s final closing.
Camping World agreed to pay $1 million for each dealership’s assets and $48.5 million for the real estate associated with the Elkhart, Murfreesboro and Surprise stores. However, the purchase agreement included provisions for purchase price negotiations between the companies, and the final purchase price for the five stores was not disclosed.
