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Peloton To Acquire Precor, for $420M

Peloton (NASDAQ: PTON), a NYC-based interactive fitness platform, is to acquire Precor, a global commercial fitness equipment provider,in a transaction valued at $420m USD.
With the acquisition, expected to close in early calendar year 2021, Peloton plans to establish U.S. manufacturing capacity, boost research and development capabilities with Precor’s team, and accelerate penetration of the commercial market.
The company plans to produce connected fitness products in the U.S. before the end of the calendar year 2021. Subject to the completion of the transaction, Precor will operate as a business unit within Peloton. Precor President Rob Barker will become CEO, Precor and General Manager, Peloton Commercial, reporting to William Lynch, Peloton’s President. ....

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Peloton to acquire fitness-equipment maker Precor for $420 million

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Peloton Shares Spike on Deal to Buy Precor, Adding U.S. Factories

Ezra Shaw/Getty Images
Peloton
is acquiring the fitness equipment provider Precor for $420 million in cash from the Finnish sporting goods company Amer Sports. The move will give the maker of connected bikes and treadmills U.S. manufacturing capacity for the first time.
Peloton (ticker: PLTN) says it expects to be producing connected fitness gear in the U.S. market before the end of calendar 2021. That will be welcome news for both investors and customers, given that recent product shortages have resulted in long delivery delays.
Precor will operate as a separate business unit within Peloton, with current Precor President Rob Barker serving as CEO and reporting to Peloton President William Lynch. Amer Sports is owned by an investor group that includes ANTA Sports, FountainVest Partners, Anamered Investments and Tencent. The deal is expected to close in early 2021. ....

Rob Barker , Ericj Savitz , William Lynch , Ezra Shaw Getty , Precor President Rob Barker , Peloton President William , Amer Sports , Fountainvest Partners , Anamered Investments , கொள்ளை பர்கர் , வில்லியம் லிஞ்ச் , எஸ்ரா ஷா கெட்டி , பெலடாந் ப்ரெஸிடெஂட் வில்லியம் , அமர் விளையாட்டு ,

Peloton acquires fitness machine manufacturer Precor

Geeky Gadgets
11:06 am
To help fight off the ingress of Apple’s new Fitness+ service into the interactive fitness market, Peloton has this week announced the acquisition of Precor for $420 million. Precor is one of the largest global commercial fitness equipment providers with a significant U.S. manufacturing presence. Earlier this month Apple launched their new highly anticipated Apple Fitness+ service, enabling those with Apple products to benefit from tailored workouts across a wide variety of different classes from yoga to rowing.

“With the acquisition, Peloton plans to establish U.S. manufacturing capacity, boost research and development capabilities with Precor’s highly-skilled team, and accelerate Peloton’s penetration of the commercial market. Peloton plans to produce connected fitness products in the U.S. before the end of the calendar year 2021. Subject to the completion of the transaction, Precor will operate as a business unit within Peloton ....

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Peloton makes biggest purchase with US$420M Precor deal

Peloton makes biggest purchase with US$420M Precor deal
Mark Gurman and Jason Kelly, Bloomberg News
Christine Poole discusses Peloton
Peloton Interactive Inc. agreed to buy fitness-equipment company Precor for US$420 million to gain U.S. manufacturing capabilities and new expansion opportunities.
The deal is expected to close early next year and is the largest to date for the New York-based maker of pricey bikes and treadmills. Shares of the company jumped eight per cent in extended trading.
Peloton sales have soared this year as the pandemic shut gyms and forced people to work out from home. However, the company struggled to keep up with demand. That led to long wait times and frustrated customers. By making fitness equipment closer to U.S. consumers, Peloton will be able to deliver products sooner. Existing manufacturing facilities overseas will continue operating, according to the company. ....

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