Peloton to pay $420M for Precor, longtime Seattle-area maker of commercial fitness equipment
Peloton announced Monday that it is acquiring Precor, the longtime Woodinville, Wash,-based makers of commercial fitness equipment, in a deal valued at $420 million. Peloton has been riding a wave of popularity with its home-based interactive fitness program, and with the acquisition it plans to establish U.S. manufacturing capacity, boost research and development capabilities, and accelerate Peloton’s penetration of the commercial market, according to a news release. Founded in 1980, Precor has decades of experience supplying fitness equipment to clubs, hotels, fitness centers and home exercisers. The company is a unit of Finnish sports equipment maker Amer Sports, which is… Read More