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Peloton to acquire fitness equipment maker Precor in $420M bid to grow commercial business – TechCrunch


Peloton to acquire fitness equipment maker Precor in $420M bid to grow commercial business
Peloton has announced that it intends to acquire Precor, one of the world’s largest suppliers of commercial fitness equipment. You probably recognize the Precor brand name if you’ve ever spent time in a hotel or standalone commercial gym, which is exactly why Peloton making this purchase makes a ton of sense at this particular time for the hot home-workout brand.
The Precor acquisition will be made via a deal that’s valued at a total of $420 million, and in addition to expanding its commercial business, this also helps Peloton bring on a lot more manufacturing capability in a time when its order queue for its Tread and Bike hardware is deeper than ever, thanks to the increase in demand resulting from the COVID-19 pandemic. Precor already maintains a significant U.S.-based manufacturing operation, as well as dedicated research and development teams and facilities. In total, Pelo ....

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Peloton to buy Precor in company's largest over acquisition


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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Peloton Signs Agreement To Acquire Precor


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
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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 ....

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