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Peloton Closes USD 420m Acquisition of Commercial Fitness Equipment Provider Precor.

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M2 EQUITYBITES-April 7, 2021-Peloton Closes USD 420m Acquisition of Commercial Fitness Equipment Provider Precor

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New York-based interactive fitness platform Peloton (NASDAQ: PTON) has closed the acquisition of Seattle-based commercial fitness equipment providers Precor for USD 420m, the company said.

With the acquisition, Peloton plans to establish US manufacturing capacity, boost research and development capabilities with Precor's team, and accelerate Peloton's penetration of the commercial market.

Peloton plans to produce connected fitness products in the US before the end of the calendar year 2021. Subject to the completion of the transaction, Precor will operate as a business unit within Peloton.

The acquisition adds 625,000 square feet of US manufacturing capacity with in-house tooling and fabrication, product development, and quality assurance capabilities in Whitsett, North Carolina and Woodinville, Washington.

Peloton will be able to control the entire production process, from design to ship, and increase total production scale, while maintaining a high level of product quality.

By making fitness equipment closer to US consumers, Peloton will be able to deliver connected fitness products to Members sooner.

The Precor US facilities will join Peloton's existing manufacturing network with its third party manufacturers and the Tonic facilities...

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