Wednesday, April 18, 2007
AGI (the Affinity Group) Sells Camping World to Freedom Roads group of RV dealers
RV Business
Wednesday, April 18, 2007
Affinity Group Inc. (AGI) has announced plans to sell its Camping World Inc. subsidiary to FreedomRoads Holding Company LLC, a Chicago area-based national RV dealer network.
In a filing with the Securities and Exchange Commission (SEC), AGI said it entered into a stock purchase agreement on April 16 with FreedomRoads. The agreement calls for the sale within the next 60 days of all of Camping World’s outstanding stock to FreedomRoads for $175.8 million, subject to certain conditions and adjustments. All three companies are controlled by businessman Steve Adams.
The sale is an extension of a “joint venture” through which Camping World has co-located aftermarket parts and accessories stores with numerous FreedomRoads-affiliated dealerships throughout the country. As part of that joint venture relationship, FreedomRoads has been managing the joint efforts of FreedomRoads and Camping World for more than one year.
Camping World, a national specialty retailer of merchandise and services for RV owners, currently operates 71 locations in 26 states. Of those stores, 38 are alongside or within FreedomRoads dealerships and 32 are leased from FreedomRoads. The nation’s largest wholly owned RV dealer network, FreedomRoads operates retail stores at 58 retail locations in 22 states, including six on property leased from Camping World.
Wednesday, April 18, 2007
Affinity Group Inc. (AGI) has announced plans to sell its Camping World Inc. subsidiary to FreedomRoads Holding Company LLC, a Chicago area-based national RV dealer network.
In a filing with the Securities and Exchange Commission (SEC), AGI said it entered into a stock purchase agreement on April 16 with FreedomRoads. The agreement calls for the sale within the next 60 days of all of Camping World’s outstanding stock to FreedomRoads for $175.8 million, subject to certain conditions and adjustments. All three companies are controlled by businessman Steve Adams.
The sale is an extension of a “joint venture” through which Camping World has co-located aftermarket parts and accessories stores with numerous FreedomRoads-affiliated dealerships throughout the country. As part of that joint venture relationship, FreedomRoads has been managing the joint efforts of FreedomRoads and Camping World for more than one year.
Camping World, a national specialty retailer of merchandise and services for RV owners, currently operates 71 locations in 26 states. Of those stores, 38 are alongside or within FreedomRoads dealerships and 32 are leased from FreedomRoads. The nation’s largest wholly owned RV dealer network, FreedomRoads operates retail stores at 58 retail locations in 22 states, including six on property leased from Camping World.
