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Peloton completes US$420m acquisition of Precor
03 Apr 2021 . BY Tom Walker
Peloton will acquire Precor's US-based manufacturing capacity / Precor
The next few months are going to be some of the most exciting as Precor and Peloton work together to build for the future
– Rob Barker
At-home fitness giant Peloton has officially completed the acquisition of equipment provider Precor, in a deal worth US$420m.

Precor will now become a division of Peloton, with current Precor president, Rob Barker, becoming CEO of Precor and general manager of Peloton Commercial. He will report directly to William Lynch, president of Peloton.

The deal, first revealed in December 2020, will result in Peloton establishing a US-based manufacturing operation, helping it to meet the increased demand for its products created by the pandemic.

Peloton achieved record sales during 2020, but disruptions in the supply chain – caused by the coronavirus outbreak – led to a bottleneck leading to a "backlog of deliveries in all geographies".

Peloton will gain 625,000sq ft of factory space in North Carolina and Washington State, US, along with a 100-strong R&D team, in-house tooling and fabrication and a quality assurance set-up, enabling it to shorten time to market for its products, as its existing manufacturing capacity is mainly in Asia.

Utilising its newly-acquired manufacturing capacity, Peloton plans to produce connected fitness products in the United States before the end of the calendar year 2021. Peloton also plans to accelerate its penetration of the commercial market.

William Lynch, Peloton’s President, said: "This is a major milestone for Peloton and our global community.

“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.”

Precor President Rob Barker added: "The next few months are going to be some of the most exciting as Precor and Peloton work together to build for the future and empower more people to live the lives they desire.

“With Peloton Commercial, we expect we’ll be able to not only continue our relationship with our current customers, but scale the Peloton experience that millions of people have at home to even more hotels, campuses, and multifamily residences."
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Jobs   News   Products   Magazine
PRODUCT NEWS
Peloton completes US$420m acquisition of Precor
03 Apr 2021 . BY Tom Walker
Peloton will acquire Precor's US-based manufacturing capacity / Precor
The next few months are going to be some of the most exciting as Precor and Peloton work together to build for the future
– Rob Barker
At-home fitness giant Peloton has officially completed the acquisition of equipment provider Precor, in a deal worth US$420m.

Precor will now become a division of Peloton, with current Precor president, Rob Barker, becoming CEO of Precor and general manager of Peloton Commercial. He will report directly to William Lynch, president of Peloton.

The deal, first revealed in December 2020, will result in Peloton establishing a US-based manufacturing operation, helping it to meet the increased demand for its products created by the pandemic.

Peloton achieved record sales during 2020, but disruptions in the supply chain – caused by the coronavirus outbreak – led to a bottleneck leading to a "backlog of deliveries in all geographies".

Peloton will gain 625,000sq ft of factory space in North Carolina and Washington State, US, along with a 100-strong R&D team, in-house tooling and fabrication and a quality assurance set-up, enabling it to shorten time to market for its products, as its existing manufacturing capacity is mainly in Asia.

Utilising its newly-acquired manufacturing capacity, Peloton plans to produce connected fitness products in the United States before the end of the calendar year 2021. Peloton also plans to accelerate its penetration of the commercial market.

William Lynch, Peloton’s President, said: "This is a major milestone for Peloton and our global community.

“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.”

Precor President Rob Barker added: "The next few months are going to be some of the most exciting as Precor and Peloton work together to build for the future and empower more people to live the lives they desire.

“With Peloton Commercial, we expect we’ll be able to not only continue our relationship with our current customers, but scale the Peloton experience that millions of people have at home to even more hotels, campuses, and multifamily residences."
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fibodo believes that providers who meet consumers needs of service, flexibility, richness of content and accessibility will thrive as we build new and different models of working in leisure, health and fitness and across all sports and activities.
Integrated workout solutions will underpin gyms' recovery, says Les Mills’ Martin Franklin
The UK has spent most of the year in lockdown but finally, clubs are beginning to see their fitness communities open back up, with indoor group exercise not far behind.
Red light therapy improves sleep, aids recovery and enhances focus
Offering red light therapy to your members can create a valuable source of secondary spend, while also supporting them with their recovery and delivering improvements to mobility, circulation and muscle soreness.
Smartech brings the Power Plate experience to Selfridges
Smartech, the destination for innovation in exclusive partnership with the best department stores around the globe, has chosen Power Plate to boost its range of health and fitness products.
Connect for success with Precor
Members are returning post-lockdown expecting a fully integrated service, meaning digital connectivity has never been more important.
Marc Jones joins Fitronics in new head of commercial role
Marc Jones has joined Fitronics, the company behind The Retention People (TRP) and CoursePro, in a newly created role of Head of Commercial.
iFit: your readymade omnichannel fitness solution
With gyms and leisure centres in England reopened, and the rest of the UK due to shortly follow suit, the time for being theoretical is over.
Engaging smart technology helps gyms and fitness professionals get their leading role back
Safety, quality of service, and member engagement are key in order to offer a unique fitness experience that will boost the re-start.
Core Health & Fitness announce partnership with Oss Fitness in Spain
Core Health & Fitness is pleased to announce it’s signed an exclusive agreement with Oss Fitness for the distribution of its brands in the commercial and residential markets across Spain.
Warriors announce new official supplier agreement with Power Plate UK
As an integral part of the first team's training programme, Power Plate is supporting the Worcester Warriors with access to its full range of vibration training equipment, in order to help the club with performance gains, recovery and the rehabilitation of players.
Bounce back faster with a new risk-free joiner channel
The industry is eagerly awaiting the reopening of health clubs and leisure centres in another year affected by COVID-19, where the only thing that’s been certain is uncertainty.
Precor supports Aneurin Leisure Trust in three-site refurbishment
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+ More products   
 
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Physical Company

Physical Company’s mission statement is ‘First for Fitness Solutions’ – a statement that reflects th [more...]
+ More profiles  
CATALOGUE GALLERY
+ More catalogues  

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CPASE creates unforgettable luxury member experience at new boutique club with Technogym
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DIARY

 

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+ More diary  
 


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Tel: +44 (0)1462 431385

©Cybertrek 2021

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