SOURCE: Camping World

Camping World

June 30, 2017 08:15 ET

Gander Outdoors and Overton's Announce Existing Retail Stores Expected to Remain Open Following Recent Acquisition by Camping World

LINCOLNSHIRE, IL--(Marketwired - Jun 30, 2017) -  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. Following Camping World's successful bid in the bankruptcy process, Marcus Lemonis, Chairman of Camping World Holdings, stated his intention of operating stores with a clear path to profitability and Camping World's then current goal to operate seventy or more locations subject to, among other things, the ability to negotiate acceptable lease terms with landlords. 

Lemonis stated, "Our original goal was to initially open seventy or more stores, and while our initial list is now less than seventy, we are not willing to open stores which we do not believe have a clear path to profitability." Assuming details can be worked out with landlords and final acceptable leases agreed to, the following locations are expected to reopen under the new Gander Outdoors and Overton's brand, with a fresh offering of Gander Outdoors, Overton's and Camping World products and services:

   
1 Lake Mary, FL
2 Ocala, FL
3 Valdosta, GA
4 Newnan, GA
5 Davenport, IA
6 O' Fallon, IL
7 Indianapolis (Castleton), IN
8 Ft Wayne, IN
9 Paducah, KY
10 Flint, MI
11 Traverse City, MI
12 Kalamazoo, MI
13 Saginaw, MI
14 Utica, MI
15 Marquette, MI
16 Port Huron, MI
17 Grand Rapids, MI
18 Hermantown (Duluth), MN
19 Forest Lake, MN
20 Lakeville, MN
21 Baxter, MN
22 Bemidji, MN
23 Hattiesburg, MS
24 Chesterfield, MO
25 Fenton, MO
26 Winston-Salem, NC
27 Fayetteville, NC
28 Greensboro, NC
29 Mooresville, NC
30 Cicero (Syracuse), NY
31 Watertown, NY
32 Kingston, NY
33 Tonawanda, NY
34 Plattsburg, NY
35 Canton, OH
36 Niles, OH
37 Williamsport, PA
38 Greensburg, PA
39 York, PA
40 Chambersburg, PA
41 N. Charleston, SC
42 Jackson, TN
43 Spring, TX
44 Tyler, TX
45 Amarillo, TX
46 Ft Worth, TX
47 Lewisville, TX
48 Roanoke, VA
49 Fredericksburg, VA
50 Waukesha, WI
51 Rothschild (Wausau), WI
52 Onalaska, WI
53 Kenosha, WI
54 DeForest (Madison), WI
55 Baraboo, WI
56 Sheboygan, WI
57 Janesville, WI
   

Lemonis added, "In addition to the locations identified above, we are currently pursuing other locations for expansion and expect to announce additional locations and markets in the near term with all of our Gander Outdoors, Overton's and Camping World offerings."

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 130 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.

About Overton's

Launched in 1976 in Greenville, North Carolina, Overton's is America's Marine and Watersports Superstore offering over 50,000 products and accessories from the best suppliers in the industry. Overton's customers can shop online anytime at Overtons.com or at retail stores in Greenville and Raleigh, North Carolina. With a name widely recognized and respected in the industry, Overton's is planning several more locations and is looking to expand its wide selection of marine and watersports products online to better serve its customers.

About Gander Outdoors

Gander Outdoors is the nation's largest outdoor retail network. We are a fully integrated Omni-Channel retailer dedicated to servicing the hunting, camping, fishing, shooting sports, and outdoor products markets. As 'America's Firearms Supercenter,' we are a market leader in the shooting sports category with an extensive offering of firearms, ammunition, and accessories.

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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