RV Retailer has signed an agreement to acquire RV One Superstores from Don Strollo, who will continue to lead RV One Superstores and will retain a significant ownership stake in the business.
RV One is the No. 5 volume RV dealer in the U.S., No. 1 volume RV dealer in New York and No. 3 volume RV dealer in Florida, stated RV Retailer.
RV One sold approximately 8,000 RVs in 2017. RV One, which was founded 34 years ago by the Strollo family, currently retails new and used motorhome and towable RVs from five stores in Orlando and Tampa, Fla., Albany and Buffalo, N.Y., and Des Moines, Iowa. RV One anticipates completion of new state-of-the-art RV sales and service facilities in Orlando, Tampa and Sarasota by year-end.
Upon completion of these facilities, RV One will have a total of seven stores and is well positioned for strong future growth.
“We are excited to partner with Don Strollo, who has led the extraordinary growth of RV One from $9 million in annual revenue to $400 million over the last 25 years,” said Jon Ferrando, president and CEO of RV Retailer. “We welcome RV One’s 430 dedicated and talented associates to the RV Retailer family. We will continue to operate the business under the RV One retail brand name. … Upon completing the acquisition of RV One and our previously announced acquisition of ExploreUSA, RV Retailer will have 17 stores in Texas, Florida, New York and Iowa with approximately $900 million in annual revenue.”
“I’m truly excited to partner with Jon Ferrando and the RV Retailer team to build the premier RV retail business in the U.S.,” said Strollo, CEO of RV One. “This is a transformational acquisition in the RV industry. I am proud of what RV One has accomplished, and excited about the future with RV Retailer.”
“We look forward to working with Don and the whole RV One management team,” said John Rizzo, executive VP and CFO of RV Retailer. “We expect to complete the transaction in the fourth quarter 2018, following manufacturer approvals and other customary conditions to closing.”
