A Whitsett manufacturing plant is among assets being acquired by Peloton as part of its proposed $420 million purchase of Precor announced Tuesday. The deal is expected to close in early 2021.
Precor has combined 625,000 square feet of production space in Whitsett and Woodinville, Wash. The space includes in-house tooling and fabrication, product development, and quality assurance capabilities.
The $26 million Whitsett plant opened in 2011 at 230,000 square feet. At last count, Precor had more than 140 employees at the facility.
Although Peloton has most of its products make offshore by third-party vendors, it said it will keep Precor’s U.S. manufacturing “to be able to deliver connected fitness products to members sooner.”
Peloton said it “plans to establish U.S. manufacturing capacity by the end of 2021, boost research and development capabilities with Precor's highly skilled team, and accelerate Peloton's penetration of the commercial market.”