LINCOLNSHIRE, Ill.--(BUSINESS WIRE)--
On May 1, 2017, Camping World Holdings, Inc. (NYSE:CWH) (“Camping
World”), the nation’s largest network of RV-centric retail locations and
only provider of a comprehensive portfolio of services, protection
plans, products and resources for the outdoor enthusiast, announced the
planned acquisition of certain assets of Gander Mountain Company
(“Gander Mountain”) and its Overton’s, Inc. (“Overton’s”) boating
business, following Camping World’s successful bid for certain assets of
Gander Mountain and Overton’s in a bankruptcy auction on April 27, 2017
and April 28, 2017. On May 4, 2017, the transaction was approved by the
United States Bankruptcy Court for the District of Minnesota (the
“Bankruptcy Court”).
On May 5, 2017, CWI, Inc., an indirect wholly-owned subsidiary of
Camping World, entered into an asset purchase agreement (the
“Agreement”) with Gander Mountain. As part of the Agreement, Camping
World obtained the right to designate any real estate leases for
assignment to Camping World or other third parties and initially plans
to operate stores that it believes have a clear path to profitability.
Marcus Lemonis, Chairman and CEO of Camping World, stated “after
reviewing the stores in more detail since our successel bid in the
bankruptcy process, our current goal is operate seventy or more,
locations subject to, among other things, our ability to negotiate lease
terms with landlords on terms acceptable to us and approval of the
Bankruptcy Court. The current liquidation of the existing Gander
Mountain inventory will allow us to start with a clean slate of what we
consider the appropriate mix and level of inventory, including the
addition of Camping World and Overton’s offerings where appropriate.”
About Camping World Holdings, Inc.
Camping World Holdings Inc. (NYSE: CWH) is the only provider of a
comprehensive portfolio of services, protection plans, products and
resources for recreational vehicle (“RV”) enthusiasts. Through its two
iconic brands, Camping World and Good Sam, the company offers new and
used RVs for sale, vehicle service and maintenance along with more than
10,000 products and services through its retail locations and membership
clubs. Good Sam branded offerings provide the industry’s broadest and
deepest range of services, protection plans, products and resources
while the Camping World brand operates the largest national network of
RV-centric retail locations in the United States through over 125 retail
locations in 36 states and an e-commerce platform. With both brands
founded in 1966, product and service offerings are based on 50 years of
experience and customer feedback from RV enthusiasts.
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. Statements regarding the purchase price of
the Overton’s inventory and certain other assets, our future results of
operations and financial position, business strategy and plans and
objectives of management for future operations, including with respect
to the assets of the Gander Mountain and Overton’s boating business, are
forward-looking statements. 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 those
described in our filings with the Securities and Exchange Commission.
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 Securities and
Exchange Commission.
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Source: Camping World Holdings, Inc.