Who Owns Camping World?

Camping World is an American recreational retailer based in Lincolnshire, Illinois. David Garvin founded the company in 1966 . It sells recreational vehicles (RVs), RV parts, camping supplies, and RV-related products and services.

As of Mar 2024, Camping World operated 215 stores in 43 US states, a 10.3% increase from Mar 2023. The company added 20 stores within a year. [1]

Camping World is the go-to destination for everything RV. The company operates via two business segments: RV and Outdoor Retail and Good Sam Services and Plans. The RV and Outdoor Retail division offers new and used RVs, financing for RV buyers, RV insurance, RV service and repair, and RV parts and accessories.

In 2023, Camping World sold 58,731 new RVs and 56,823 used RVs. Used RV sales increased by 10.7% or 5,498 units, while new RV sales decreased by 16.6%. [2]

Camping World is the world’s largest recreation dealer. The company combines an array of RV products with a national network of RV dealerships, service centers, and an extensive online presence to serve customers.

In Jun 2023, Camping World launched a new dealership format dedicated to the RV industry’s leading brands. The company selected several locations to sell, service, and showcase brand-specific innovation and products, from Oklahoma City to Macon, Northern Michigan, La Mirada, Redding, St. George, Green Bay, Lakeville, and Little Rock. [3]

Camping World uses several marketing strategies to promote its products and services. The company is the official RV dealer and outdoor supplier of the National Hot Rod Association (NHRA).

In Oct 2023, the NHRA and Camping World extended their partnership to 2026. Camping World is a premier partner for the 2024 NHRA race season. The tie-up allows the company to promote its product and services to the NHRA fan base, indexing No. 1 of major sports for camping, hunting, and fishing. But who owns Camping World? [4]

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Who is Camping World’s Parent Company?

Camping World is part of Camping World Holdings, Inc. (CWHI), a public company trading on the NYSE under the CWH symbol. Marcus Lemonis leads as the Chairman and CEO of CWHI. The parent company has several brands, including Camping World, Good Sam Enterprises, FreedomRoads, and Coleman.

In Jan 2024, CWHI’s Coleman brand was the #1 selling travel trailer by unit volume in the US. Coleman was America’s second-best-selling travel trailer in 2023. [5]

Camping World Holdings, Inc. is committed to its brands’ expansion. The parent company has invested in strategic acquisitions. In Jan 2024, Camping World Holdings acquired Ashley Outdoors in Salem, Alabama.

The company plans to add 15 dealerships in Q1 2024 and expand its network to over 320 locations within five years. It opened and bought new dealerships and closed underperforming stores in 2023. The company laid off over 1,000 employees in Q3 2023 after closing two retail locations and a distribution center. [6]

Camping World refreshes its RV lineup yearly to address consumer needs. However, this strategy creates the challenge of clearing old RVs to make room for new RVs. As of Nov 2023, Camping World stores had less than 100 RVs from 2022 and around 11,700 RVs from the 2023 model year.

CEO Marcus Lemonis announced that the company will accept potential financial losses in Q4 2023 to clear old inventory. [7]

Good Sam is the second best-selling CWHI brand after Camping World. It offers RV service contracts, RV roadside assistance, property and casualty insurance, travel protection, travel planning and directories, and publications.

In 2023, Good Sam posted record-high annual revenue after rebranding and expanding beyond its RV core market. However, the parent company is working with Goldman Sachs to sell Good Sam. [8]

Image Credit: Connor Olson

Camping World Ownership History

David Garvin founded Camping World in 1966. The founder sold RV parts and supplies from the back of a pickup truck in his father’s amusement park in Kentucky. Campers and outdoor enthusiasts at the park requested a store where they could buy camping essentials.

So, Garvin took a loan and opened a small store in Beech Bend Park. He leveraged the store’s fast-growing customer list to launch and grow a mail-order division for the company. In the 1970s, Garvin opened a new Camping World store with four service bays on Beech Bend Road and expanded the company into South Carolina and Florida. [9]

Camping World opened 14 stores in six states in the 1980s. The company launched a mobile RV supercenter to offer products and services at off-site events. In 1997, the founder sold Camping World to Affinity Group, which later rebranded to Good Sam Enterprises.

The company thrived under new owners. Camping World opened 58 stores and service centers in 32 states and expanded into new and used RV sales in the 2000s.

The company sponsored the NASCAR Camping World Truck Racing Series in 2009. This deal helped enhance brand awareness. The company had 100 stores by 2013. In 2016, Camping World went public in a $251 million IPO.

The IPO transferred the company’s ownership to shareholders. [10]

Camping World used the funds from its IPO to expand its business via strategic acquisitions and partnerships. The company became MLB’s official RV dealer and outdoor supplier and bought Gander Mountain, Overton’s, and The House for Active Sports within 2 years after its IPO. In 2022, Camping World acquired Richardson’s RV Centers with eight locations in Indiana and California. The company continued to leverage acquisitions for growth in 2023, including All Seasons RV, which strengthened its Oregon presence to six dealerships. [11]

Image Credit: Alexander Andrews

Camping World’s Shareholder Structure

Camping World is a wholly owned subsidiary of Camping World Holdings, Inc., a NYSE-listed company trading under the CWH symbol. As of Dec 2023, Camping World Holdings, Inc. had one Stock A share, 39,466,000 Stock B shares, and 49,571,058 Stock C shares. Stock B and C have one vote each. The Stock C share class includes 41,959,430 free-float shares and 4,499,000 company-owned shares. [12]

Camping World’s shareholder structure includes institutional owners, insiders, and individual investors. About 280 institutions own CWH shares. As of Dec 2023, Abrams Capital was Camping World’s largest institutional shareholder, with 11.33%.

This figure represents 5.11 million shares. Vanguard Group is Camping World’s second-largest shareholder with 8.95%, followed by Blackrock Inc. at 7%, FMR LLC at 4.8%, Crestview Partners at 4.2%, Capital Research Global at 3.65%, and Eminence Capital at 3.16%. Other top players are Balyasny Asset at 2.85%, State Street Corp at 2.5%, and Interval Partners at 2.22%. [13]

Camping World’s insiders own 2.67% of the company. As of Mar 2024, CEO Marcus Lemonis was Camping World’s top insider shareholder, with a whopping 526,718 shares. Director Stephen Adams is second with 258,335 shares, followed by COO Matthew Wagner at 233,042, CFO Karin Bell at 127,692, Director Andris Baltins at 97,350, and Director Kent Schickli at 72,124.

Other insiders owning CWH shares include Mary George at 42,359 and Michael Malone at 36,321. [14]

Insiders buy and sell shares to diversify their portfolios or acquire cash to address liquidity issues. Some C-suites increase their stakes to reinforce the idea that their company is high-performing. In Mar 2024, CWHI CEO Marcus Lemonis sold 100,000 shares for over $2.5 million. Lemonis still holds a substantial stake in Camping World. [15]

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