Camping World Holdings Inc. of Lincolnshire, Illinois has announced a deal to acquire Crain RV from Crain Management Group LLC of Sherwood.
Financial terms of the transaction were not disclosed.
In a news release, the publicly traded company (NYSE: CWH) said it expects the deal to close in the fourth quarter of 2023.
Crain RV has locations in Benton, Springdale and Little Rock that sell mostly Jayco, Winnebago, Tiffin, Coachmen and Forest River products. Camping World said it intends to convert the locations into manufacturer exclusive dealerships.
The acquisition is the second in Arkansas that Camping World has announced this year. The company in April said it had a deal to purchase Breeden RV Center in Van Buren.
Marcus Lemonis, chairman and CEO of Camping World, said the company is "widening our acquisition funnel" with the goal of growing its location count by 50% over the next five years.
Crain Management Group ranked No. 19 on Arkansas Business' 2023 list of the state's largest private companies. The holding company reported $800 million in revenue in 2022, up from $791 million the previous year.
The company has interests in more than 20 auto dealerships, automotive parts distributors, radio and TV broadcasting, and investment real estate.
Larry Crain Jr. was named president and CEO of the company after the death of his father and the company's second-generation leader, Larry Crain Sr., in April.