(Correction: A previous version of this story incorrectly identified the amount of Leisure Fitness stores involved in the purchase agreement. The agreement includes 27 Leisure Fitness stores.)
Johnson Health Tech, Cottage Grove, Wisconsin, has signed an agreement to purchase specialty fitness retailer Leisure Fitness, Newark, Delaware.
The agreement announced Monday will boost Johnson Health Tech's retail footprint to 315 stores worldwide with the addition of the 27 Leisure Fitness stores, according to a media release. Johnson Health Tech had more than 200 worldwide stores after its acquisition of 58 2nd Wind Exercise Equipment retail stores in November 2015. Matrix, Vision and Horizon fitness equipment brands are manufactured by Johnson Health Tech.
"Together, Johnson Health Tech and Leisure Fitness will continue to grow and shape specialty retail," Nathan Pyles, president, Johnson Health Tech North America (JHTNA), said in a statement. "With the addition of Leisure Fitness, JHTNA has almost 100 specialty fitness retail locations in the United States. That distribution network, combined with the product design, engineering and manufacturing excellence of our global organization, gives us a unique opportunity to fuel continued growth."
Leisure Fitness will be merged into the existing JHTNA retail group but will operate as a separate entity with its existing management team. Leisure Fitness' stores cover Connecticut, New York, New Jersey, Pennsylvania, Delaware, Maryland, and Virginia.
"We're proud to be part of an organization like Johnson Health Tech that continues to invest in specialty retail," Paul Bastianelli, CEO, Leisure Fitness, said in a statement. "Like Leisure Fitness, JHT believes in investing in great people that can deliver outstanding customer experiences. With our shared vision and customer commitment, we'll continue to help grow specialty fitness."