Lazydays Holdings, Inc., a publicly-traded company trading under the ticker GORV, and Campers Inn Holding Corp., the nation’s largest family-operated RV dealership group, have entered into a non-binding letter of intent (LOI) for the acquisition by Campers Inn or its affiliate of substantially all of the assets of Lazydays and its subsidiaries.
The LOI contemplates that Campers Inn, or a new holding company entity (NewCo) owned by certain ultimate owners of Campers Inn, including Jeffrey M. Hirsch, will acquire all or substantially all of the assets of Lazydays and its subsidiaries for consideration to include: (i) $30 million for furniture, fixtures, equipment, parts, goodwill, and other personal property other than recreational vehicle inventory; (ii) a price for recreational vehicle inventory based on pricing methodologies as stated in the LOI; and (iii) a price for owned real property based on a percentage of appraised value for the property as stated in the LOI.
“Throughout our 49-year history, Lazydays has played a leading role in the RV industry, recognized for giving our customers a great sales and service experience, and being pivotal to their RV adventures,” offered Lazydays CEO Ron Fleming, whose has been managing through the divesture of the business over the last year. “It has been a transformative few years as an industry, and within Lazydays, while navigating a rapidly evolving industry and an increasingly complex retail landscape.”
After the closing, Campers Inn RV plans to continue the operation of Lazydays’ dealerships in Tucson, Arizona; Johnstown, Colorado; Seffner, Florida; Knoxville, Tennessee; and St. George, Utah.
Campers Inn said it is assessing whether to continue to operate the other Lazydays dealerships after the closing of the transaction. The LOI states that the transaction may close in a series of site-by-site closings if mutually agreed by the parties, and that Campers Inn’s target final closing date is before Thanksgiving and no later than December 1, 2025. The transaction would expand Campers Inn RV’s nationwide presence to 48 dealership locations across 22 states.
Campers Inn has planned openings for new locations in Myrtle Beach South Carolina, Milford, Massachusetts, and Washington, Pennsylvania – and is expecting to surpass 50 locations in 2026.
If consummated, the acquisition would provide Campers Inn RV with its first entry into Tennessee, Colorado, and Utah.
“The potential acquisition of Lazydays is more than a business decision; it’s a reflection of our shared values and a continuation of the traditions that have guided Campers Inn RV since our founding nearly 60 years ago,” said Jeff Hirsch, CEO, Campers Inn RV. “Both companies have always believed in treating customers and employees with dignity, respect, and care. Together, we are creating a future that would not only expand our national presence but strengthen the culture of service and integrity that defines who we are.”
After the closing of the transaction, the Lazydays Tampa-area dealership in Seffner, Florida is expected to operate under the name “Lazydays by Campers Inn RV.” In addition, Campers Inn plans to grow the Tampa facility through numerous customer rallies, enhanced service, and a unique experience.
“The Lazydays story is truly a great one in our industry, and one that we are excited for the chance to continue for decades to come,” added Campers Inn COO Ben Hirsch. “The Tampa location, located on 129 acres, is the largest single-point RV dealership in the world, and has a unique offering for customers – offerings that we are excited to enhance for customers’ benefit. In addition, adding the locations in Tennessee, Colorado, Arizona, and Utah would enhance our national footprint and allow us to continue to be the largest family-operated RV dealership group. We are in the process of assessing Lazydays’ other locations and will make further determinations as we progress through the process.”
Lazydays is urging its stakeholders to read the Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission for additional important information regarding the transaction, including that the LOI is non-binding, except with respect to a deposit, exclusivity provisions and a termination fee, and regarding risk factors, including that the estimated purchase price for the transaction under the terms of the LOI is projected to be less than the total amount of secured and unsecured liabilities of Lazydays and the stockholders of Lazydays may receive no recovery in the transaction, depending on various future factors and developments through any closing. Lazydays entered into the LOI following a thorough process coordinated by Lazydays’ investment banker for Lazydays to evaluate its strategic options and alternatives.
Image courtesy Campers Inn Holding Corp.
