Parent company intends to sell RV dealer in Weld County

FIRESTONE — A recreational vehicle dealer along Interstate 25 in Weld County is among three that its Florida-based parent company intends to sell.

Tampa-based Lazydays Holdings Inc. (Nasdaq: GORV) announced Monday that it has signed a letter of intent to sell three store locations including Lazydays of Denver at Longmont, 10400 E. I-25 Frontage Road, to General RV Center. General RV, which was founded in Michigan in 1962, operates 21 full-service dealerships in Michigan, Illinois, Ohio, Virginia, Florida, Utah, North Carolina and Pennsylvania.

The other two Lazydays stores the parent company intends to sell are in Fort Pierce, Florida, and Mesa, Arizona.

Such a letter of intent is generally nonbinding, with the exception of a 75-day exclusivity provision relating to the three stores. According to a Lazydays news release, divestiture of the stores is expected to be finalized within 75 days.

“As we continue to evaluate and streamline our dealership footprint to maximize shareholder value, we made the decision to strategically divest three stores from our portfolio,” Ron Fleming, Lazydays’ interim CEO, said in a prepared statement. “We expect this transaction to add meaningful cash to our balance sheet, reduce our indebtedness and decrease geographical redundancy in our footprint, while allowing Lazydays to continue our operational improvements among a more focused dealership network.

“General RV Center is an established dealership operator that closely aligns with our brand, employee and facility standards,” he said, “and we are confident the company will serve as a strong steward for these stores going forward.”

Lazydays has been a prominent player in the RV industry since its inception in 1976.

“We are pleased to partner with a well-established dealership like Lazydays to expand our reach and enhance opportunities for RV enthusiasts in key markets, Loren Baidas, CEO of General RV, said in the news release. “Entering Arizona and Colorado aligns with our growth strategy, building on the strong performance of our Utah locations and our deep experience in Florida, where we operate seven dealerships. This collaboration strengthens our presence and benefits customers in these regions. We are thrilled to have these three locations join the General RV family of dealerships.”

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