Consolidation in the fitness and wellness equipment business continues as Star Trac, a global leader in the commercial fitness industry, announced today that Michael Bruno and Star Trac signed an agreement whereby Bruno will purchase the controlling interest in Star Trac”™s parent company. This will strengthen the company”™s ability to provide the product innovation, quality, reliability and customer service that have been the Star Trac brand legacy since 1988. The parties expect to close within two business days. Financial terms of the acquisition have not been disclosed.
Bruno, a highly respected fitness industry veteran for more than 20 years, also has holdings that include Stairmaster (which Schwinn is a part, John) based in Vancouver, Washington and Land America, a manufacturing firm in China that builds high-end consumer and commercial fitness equipment. His reorganization plan for Star Trac focuses on company continuity and aggressive streamlining.
Michael Bruno is also the CEO of Fit Dragon International, LTD., a British Virgin Islands company that purchased the assists Schwinn earlier this year.
I wonder what is going to happen with this?
Schwinn is pushing hard to get their Schwinn AC "Authentic Cycling" Performance cycles with power ready and Star Trac has yet to introduce a bike with power. Will we see some co-branding of the Schwinn cycle as a Spinner cycle with power in the near future? Will there continue to be two brands?
More on this as it develops.
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