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Peloton Buys Fitness-Giant Precor For $420MM In Largest Ever Acquisition zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.
Peloton Buys Precor, as More People Work Out From Home Related Stories February 26, 2021 February 3, 2021 November 23, 2020 Precor for $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. Peloton sales have soared this year as the pandemic shut gyms and forced people to work out from home. Mergers & Acquisitions analyzes the plethora of exercise equipment M&A and private equity deals during the pandemic in our November/December cover story, 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. ....
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. ....
Peloton Signs Agreement To Acquire Precor Acquisition expected to establish Peloton s U.S. manufacturing footprint, enhance R&D capabilities, and accelerate growth of commercial verticals News provided by Share this article Share this article NEW YORK, Dec. 21, 2020 /PRNewswire/ Peloton (NASDAQ: PTON), the leading interactive fitness platform, today announced that it has entered into an agreement to acquire Precor, one of the largest global commercial fitness equipment providers with a significant U.S. manufacturing presence, in a transaction valued at $420 million USD. 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 opera ....