Peloton made the announcement about the Precor acquisition back in December. It’s the biggest purchase that Peloton has made thus far. As of April 1st, the deal has finalized.
“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.”
“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,” said Barker. “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.”
Precor President Rob Barker will stay with the title CEO, Precor and General Manager, Peloton Commercial, reporting to Lynch.
With this acquisition, Peloton will establish a major U.S. manufacturing footprint, enhance its R&D capabilities, and accelerating the growth of commercial verticals.
The COVID-19 pandemic has changed a lot of opinions about global supply chains. Many companies are now looking to diversify where products are manufactured so they are not so reliant on a single source.
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