Recreation USA Agrees to Purchase Lexington, Ky. Dealership
11 July 2000
Nationwide RV Dealer Continues Its Growth StrategyORLANDO, Fla. - Holiday RV Superstores, Inc. has signed a definitive agreement to purchase Hall Enterprises, Inc., a Lexington, Ky. RV dealership, marking its ninth store acquisition in the past eight months. The Orlando, Fla. chain of recreational vehicle and marine dealerships, operating under the trade name Recreation USA, has added to the Company's growing nationwide presence with the acquisition of Hall Enterprises, which is doing business as Hall's Camper. The Lexington dealership employs 35 people and reported approximately $13 million in sales in 1999. This is the Company's second acquisition in its Mid-Atlantic region. Recreation USA said the transaction, which is being completed for an undisclosed amount of stock, should close within 60 days. Owner Tommy R. Hall, who launched Hall Enterprises in 1968, will join Recreation USA and continue to manage the Lexington store. "Hall Enterprises is considered to be the premier RV dealer in the state of Kentucky, and we are pleased to add them to the Recreation USA network," said Ronald G. Huneycutt, president and CEO of Recreation USA. "This acquisition fits our strategy perfectly: It expands our presence geographically in an area of the country that's home to an up-and-coming RV population, not to mention in a main thoroughfare from the north to the south. Hall Enterprises enjoys an excellent reputation among its customers and is committed to service after the sale. "We look forward to building on the excellent reputation of Hall Enterprises and expanding our presence further into the Mid-Atlantic region." The acquisition is the ninth store Recreation USA has added to its network in the past eight months as part of a consolidation strategy designed to establish the Company as the leading national brand for sales and service in the fragmented RV and marine dealership industry. The Company has also purchased two dealership chains based in Florida, which added six stores, and a dealership with one store in West Virginia and one in Virginia. Today's agreement gives Recreation USA 14 dealership locations in seven states that sell, service and finance more than 60 RV and 10 boat brands. Hall Enterprises sells 10 brands of motorhomes, campers and other RVs, including Newmar Corp., which is an addition to the Recreation USA family of brands. The dealership has a new 20,000-square-foot facility with 14 service bays on five acres of land. The store features the distinctive red, white and blue decor of Recreation USA. "This facility continues Recreation USA's goal to offer coast-to-coast service coverage so that our customers, no matter where they travel, will be able to find quality service from a provider they trust," Huneycutt said. Recreation USA, the nation's only publicly traded chain of RV and boat dealerships, operates 14 dealership locations in California, Florida, Kentucky, New Mexico, South Carolina, Virginia and West Virginia. Recreation USA dealerships sell, service and finance more than 60 RV and 10 boat brands.