Precor expanded its reach into the strength category with the acquisition of Fitness Products International for $11.8 million. Further details and terms were not released by the company. FPI markets a range of products in the strength training category under the brand name Icarian.
Precor expects “minimal redundancy of products, staff or facilities,” according to company president Paul J. Byrne. “This adds to Precor's momentum, and is a major step in building a full-line offering suited for a consolidating market,” he said.
No major changes are expected at either company. FPI and Precor are integrating FPI operations into Precor business systems and processes, and a Precor-FPI team is identifying ways Precor can add value to FPI operations within its Southern California production facility.
“FPI has great people in manufacturing and great products in the last five years, Precor has made leading-edge advances in lean operations and manufacturing practices. We see great opportunity to apply some of these learnings to FPI's production,” said Byrne.
There is no word on whether or not FPI will keep its current offices in Sun Valley, CA, outside of L.A.
