Business

Camping World to expand RV consignment sales

Posted August 06, 2023 11:00 pm

LINCOLNSHIRE - Camping World Holdings Inc. said it is set to acquire RV Arizona Consignment Specialists in El Mirage, Arizona. The transaction establishes a platform and plan for a nationwide rollout of consignment exclusive locations, the company said.

Financial details of the transaction were not disclosed.

The consignment dealership is led by Marty Holman, a 25-year RV industry veteran who will spearhead Camping World's plan to ramp up efforts around consignment sales. The company believes consignment units are an enhancement to its existing multiyear goal to reach $3 billion of used RV sales annually.

"Growing our used RV business is one of our top revenue objectives, and any time we can increase inventory turns while reducing working capital, we believe it is win-win for our shareholders," said Marcus Lemonis, chairman and CEO of Camping World.

Over the 36-month period ending June 30, the company has more than doubled its used RV sales to just under $2 billion on an annual basis, Camping World said.

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