With this acquisition, Peloton will establish a manufacturing footprint in the US, accelerate the growth of commercial verticals and also anticipates enhanced R&D capabilities.
Peloton, the leading interactive fitness platform has recently announced that it has officially closed the acquisition of Precor, one of the largest global commercial fitness providers with a significant US manufacturing presence.
“This is a major milestone for Peloton and our global community,” said William Lynch, Peloton’s President. “We’ve spent the last few months learning more about Precor’s relentless focus on the customer experience and we’re now even more enthusiastic about welcoming this talented team to Peloton. Now with Peloton and Precor, we believe we’re even better positioned to achieve our goal of bringing the best experience in connected health and fitness to more people around the world.”
Peloton acquired Precor for $420M in cash, subject to customary adjustments for working capital, transaction expenses, cash and indebtedness.
