First it was RideNow Powersports and now the 13 stores in the Freedom Powersports family are being rolled up into RumbleOn’s “omnichannel” enterprise. A definitive agreement to acquire Freedom Powersports, including the dealerships in Texas, Georgia and Alabama was announced early November. The acquisition is subject to customary closing conditions and is expected to close in late 2021 or early 2022.
"We are excited about the outstanding business Kevin, Tom, and the Freedom team have built and we look forward to Freedom joining the RumbleOn team,” says Marshall Chesrown, RumbleOn's Chief Executive Officer. “We are well aware of the benefits of adding 13 exceptional locations representing 15 leading manufacturers to further strengthen our omnichannel offering.
“We remain confident in our ability to transform the highly fragmented powersports industry, to drive efficiencies in the marketplace, and to improve the customer experience,” Chesrown adds. “We expect Freedom to be accretive to our performance on day one without raising equity capital to fund cash consideration."
“I founded this company in 2012 with a goal of building relationships and supporting the communities we live in,” adds Freedom Powersports founder Kevin Lackey. “Today we have 13 dealerships in Texas, Georgia, and Alabama… We're powered by customer service and we just so happen to sell all the cool powersports stuff you could want or need.”
The addition of Freedom Powersports will expand RumbleOn's national presence to over 55 locations. The anticipated acquisition supports RumbleOn's growth strategy by expanding and strengthening its omnichannel offering.