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Business Observer Thursday, May 21, 2020 3 days ago

Locally based RV giant acquires Arizona dealership

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Purchase of Desert Autoplex RV expands Lazydays’ footprint in the state.

TAMPA — Lazydays RV, one of the nation’s largest RV dealerships, has acquired Mesa, Ariz.-based Korges Enterprises Inc., which does business as Desert Autoplex RV and specializes in top RV brands such as Newmar, Forest River and Northwood. 

The deal, according to a press release, expands Tampa-based Lazydays’ footprint in the Grand Canyon State beyond Tucson and into the Phoenix market. The dealership will be branded as Lazydays RV of Phoenix. 

The sellers were Aaron and Kristie Korges. Financial terms of the deal were not disclosed in the release.

"We are extremely pleased to complete this acquisition and continue to execute on our geographic expansion strategy," states William Murnane, chairman and CEO of Lazydays, in the release. "Lazydays RV of Phoenix will give us excellent access to the large and rapidly growing Phoenix market, while also extending Lazydays service coverage in Arizona. We are confident we can achieve significant growth in this market.

Lazydays, the release states, now operates eight dealerships in Florida, Colorado, Arizona, Minnesota and Tennessee, as well as a dedicated service center location near Houston, Texas.

Lazydays (NASDAQ: LAZY) reported gross revenue of $608.19 million in 2019, down from $614.84 million in 2018. In April, it laid off 25% of its workforce — approximately 230 people — as a result of the COVID-19 economic crisis. 

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