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NEWS
Apollo buys big Queensland dealer
Queensland RV group to purchase Kratzmann Caravans for $15.5 millionThe recently ASX-listed Apollo Tourism & Leisure
is set to purchase one of Australia’s biggest caravan dealers, Kratzmann Caravans and Clint’s Caravan Warehouse for $15.6 million.
is set to purchase one of Australia’s biggest caravan dealers, Kratzmann Caravans and Clint’s Caravan Warehouse for $15.6 million.
Located in Burpengary and Loganholme, the Kratzmann outlets currently stock more than 150 new and used caravans and motorhomes, and boast a 30 per cent slice of the Queensland RV market, according to the dealer website.
While Apollo chief executive Luke Trouchet said it “will be business as usual” at Kratzmanns, it’s expected that Apollo’s retail brands including Winnebago and Adria will be added to the mix of seven RV brands currently offered, which include Avan, Goldstream, Franklin, Jurgens and Aura.
The Kratzmann business was founded in 1987 by Gary Kratzmann, who will be stepping down with his son Clint staying on as general manager.
"Whilst Gary is retiring to spend more time with family, the management are all staying on. Clint Kratzmann will be continuing the family legacy by being appointed as general manager,” Trouchet said.
It will be the second major dealer acquisition by Apollo this year, following the purchase of the Sydney RV Group for $1.75 million
as well as a 20 per cent stake in RV sharing online platform Camplify.
as well as a 20 per cent stake in RV sharing online platform Camplify.
“Kratzmanns contributes to Apollo’s strategy of becoming a leading player in the Australian RV retail market and further expands our retail sales network across the country,” he said.
Also funded by investors, Apollo said it will pay another $28 million to secure full ownership of one of Canada’s largest RV rental and sales operations, the CanaDream Corporation.
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Written byCaravancampingsales Staff
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