Sport-Tiedje is to acquire Powerhouse Fitness,the trading name of Laidir Leisure Ltd, for an undisclosed sum. Upon completion of the acquisition, the combined company is estimated to be valued around GBP63m and will offer the biggest online range of products to the UK market with over 6,000 fitness related products.
Christian Grau, CEO of Sport-Tiedje Group, says: “We are excited to acquire Powerhouse fitness which is a strong player in the UK fitness market. Sport-Tiedje Group is Europe’s number one in home fitness and we have a clear international expansion strategy with the focus to further strengthen our position and we are looking forward to integrating Powerhouse within the Group.”
The new owner plans to integrate Powerhouse Fitness quickly within the Sport-Tiedje Group and will keep the established brand name ‘Powerhouse Fitness’ and current staff members. Future focus will be on expanding the demographic reach to include more women and active older people. As well as to enhance its product offering by adding own brands (Taurus and cardiostrong) to Powerhouse Fitness and ensuring synergy for further expansion of store presence. CEO, Christian Grau added “Our company philosophy is to offer our customers the best product for them with the best service and at the best price-performance ratio and we will continue to do this in the UK“
Founded in 1984 Sport-Tiedje is an established brand in Europe, with 30 stores and one of the most renowned online mail order companies for fitness equipment worldwide. Private customers order on websites in eleven languages or get their desired equipment compiled in store. Sport-Tiedje owns brands Taurus and cardiostrong and had a turnover of EUR51.4 million Euros in 2014, and this figure is expected to grow.
Powerhouse fitness was founded in 1980 and has 9 stores nationwide UK (2x London, 2x Glasgow, Nottingham, Aberdeen, Edinburgh, Newcastle, and Leeds) it is the owner of successful brand Bodymax and the longest established fitness equipment supplier in the UK market. In their financial year to June 2015 the company had a turnover of GBP22 million and further strong growth is forecasted.
