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The Naples-based Hoffmann Family of Cos. has announced another strategic acquisition.
This time as part of a national expansion of its water sports subsidiary, which began with the purchase of Marco Island & Naples Beach Water Sports in 2019.
The latest acquisition: Young Harris Water Sports & RV in Georgia.
The company operates boat and jet ski rental centers in Lake Chatuge and Lake Oconee in northern and central Georgia. It’s also the exclusive water sports recreation provider to The Ritz-Carlton Reynolds at Lake Oconee.
Beyond rentals, it offers parts and service, new and used boat sales and wakeboard supplies. It also owns two RV dealerships.
The terms of the sale were not disclosed, including the purchase price.
In a news release, the Hoffmanns said the investment is part of a U.S. expansion that could include the establishment of additional water sport rental locations in Georgia, as well as in North Carolina, South Carolina, Hawaii and “beyond.”
After acquiring Marco Island & Naples Beach Water Sports four years ago, the family purchased Regency Water Sports, its competitor on Marco, in 2020.
The Hoffmanns will soon have 10 water sport rental locations in total, with one opening soon at LaPlaya Beach & Golf Resort in Naples for the 2024 season.
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Young Harris, established in 2002, will continue to operate under its current leadership.
In a statement, Lance Markham, the company’s president, said: “This acquisition provides our company with expanded access to resources, enhances our operational capabilities and grants us the financial means to upgrade equipment or venture into new rental opportunities. We view this as a mutually beneficial development for our dedicated employees, valued customers and esteemed investors.”
The Hoffmann Family of Cos. has 90 brands in its portfolio and owns more than 200 commercial properties in the United States.
The company has 300 locations globally, employing more than 9,000 people worldwide.
We update regularly World Latest Breaking News here. We update 2023-11-21 06:03:45 this news story from official website – https://www.naplesnews.com/story/news/local/2023/11/20/hoffmanns-grow-water-sports-rental-business-with-acquisition-in-georgia/71660106007/.”
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