Camping World Announces Expansion of Its RV Inventory Floor Plan Facility
July 21 2023 - 7:30AM
Business Wire
$1.85 Billion Dollar Expanded Inventory
Facility Provides Runway for Future Growth
Camping World Holdings, Inc. (NYSE: CWH) (“Camping World”), the
World’s Largest Recreational Vehicle Dealer, today announced that
it has entered into a first amendment (the “Amendment”) to its
existing floor plan credit agreement dated September 30, 2021 (the
“RV Inventory Floor Plan Facility Amendment”).
The RV Inventory Floor Plan Facility Amendment provides
additional financial and operational flexibility for the Company’s
growth strategy by increasing the committed borrowing capacity by
$150 million, to an aggregate amount of $1.85 billion and resetting
the accordion feature to allow the Company the option to increase
the principal amount available in $50 million increments up to a
maximum amount of $300 million.
Camping World Chairman and CEO Marcus Lemonis commented, “The RV
Inventory Floor Plan Facility Amendment demonstrates our lenders’
confidence in Camping World and our strategic direction as we work
toward our goal of increasing our store count by 50% over the next
five years. This Amendment provides incremental inventory borrowing
capacity to support the future growth of our manufacturer exclusive
concept, dedicated to the industry’s leading OEM brands, including
Keystone, Jayco, Forest River, Grand Design, Winnebago, Coachmen,
and Alliance, among others.”
About Camping World Holdings,
Inc.
Camping World Holdings, Inc., headquartered in Lincolnshire, IL,
(together with its subsidiaries) is the World’s largest retailer of
RVs and related products and services. Our vision is to build a
long-term legacy business that makes RVing fun and easy. Our
Camping World and Good Sam brands have been serving RV consumers
since 1966. We strive to build long-term value for our customers,
employees, and shareholders by combining a unique and comprehensive
assortment of RV products and services with a national network of
RV dealerships, service centers and customer support centers along
with the industry’s most extensive online presence and a highly
trained and knowledgeable team of employees serving our customers,
the RV lifestyle, and the communities in which we operate. We also
believe that our Good Sam organization and family of programs and
services uniquely enable us to connect with our customers as
stewards of the RV enthusiast community and the RV lifestyle. With
RV sales and service locations in 43 states, Camping World has
grown to become the prime destination for everything RV. 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, including statements about
future goals, future business growth, anticipated store growth,
uses of financing under the Floor Plan Facility Amendment,
strategic focuses, and plans and objectives of management. 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 the risk that new stores may not open on the
timelines expected or at all, as well as the other important risks
described in our filings with the Securities and Exchange
Commission (“SEC”), including under the caption “Risk Factors” in
our Annual Report on Form 10-K filed for the year ended December
31, 2022. 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 SEC.
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Brett Andress InvestorRelations@campingworld.com
Media Outlets:
PR-CWGS@CampingWorld.com
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