ELKHART, Ind. - LCI Industries (NYSE: NYSE:LCII), through its subsidiary Lippert Components, Inc., has expanded its portfolio with the acquisition of the furniture business assets of CWDS, LLC, a subsidiary of Camping World Holdings, Inc. (NYSE: NYSE:CWH), effective May 3, 2024. This move is expected to enhance Lippert's offerings in the recreational vehicle (RV) and marine industries.
Lippert has been a dominant player in the RV furniture segment since 2009, and this acquisition is anticipated to create synergies that will benefit both OEM and aftermarket customers. The company aims to leverage these synergies to continue delivering quality interior solutions for RVs.
As a result of the transaction, Lippert will have the opportunity to influence product positioning within Camping World’s retail stores and enhance the selection on Camping World's online marketplaces, campingworld.com and overtons.com. The partnership is set to utilize Lippert’s comprehensive product catalogs across RV, automotive, and marine sectors.
Jason Lippert, President and CEO of Lippert, expressed enthusiasm about elevating the partnership with Camping World to improve the customer experience as suppliers and dealers. The goal is to integrate Lippert’s expertise and innovative products with Camping World’s dealership network to lead in RV installations, enhancements, and repairs.
Marcus Lemonis, Chairman and CEO of Camping World, also commented on the expanded partnership and its potential to elevate the retail and service experience at their dealerships.
LCI Industries supplies a wide range of engineered components to the recreation and transportation markets and their related aftermarkets. Its product line includes various items from furniture and mattresses to electronic components and appliances.
InvestingPro Insights
As LCI Industries (NYSE: LCII) continues to expand its presence in the recreational vehicle (RV) and marine industries with strategic acquisitions, such as the recent purchase of CWDS, LLC's furniture business assets, it's worth noting the company's financial health and market standing through real-time data from InvestingPro.
InvestingPro Data metrics indicate that LCI Industries has a market capitalization of $2.72 billion, with a high Price/Earnings (P/E) ratio of 41.68, slightly adjusted from the last twelve months as of Q4 2023 to 41.38. Despite a revenue decline of 27.32% over the same period, the company maintains a dividend yield of 3.91%, demonstrating a commitment to shareholder returns.
An InvestingPro Tip for LCI Industries highlights the company's track record of raising its dividend for seven consecutive years, underscoring its reliability in providing shareholder value. Additionally, the company is trading near its 52-week low, which may present a buying opportunity for investors considering the company's expected profitability this year and its history of maintaining dividend payments for a decade.
Investors interested in deeper analysis can find more than 5 additional InvestingPro Tips for LCI Industries at https://www.investing.com/pro/LCII. These tips can provide further insight into the company's financials and market position, aiding in making an informed investment decision.
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