Peloton shares rose to a record Tuesday after the company announced plans to buy exercise equipment manufacturer Precor for $420 million.
Telsey Advisory Group analyst Dana Telsey said she expects the deal could increase Peloton’s annual sales by $480 million to $500 million, assuming Peloton retains Precor’s revenue. The deal is expected to close early next year. Once finalized, Precor will operate as a business unit within Peloton and continue to make its own branded products, the companies said.
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