Coltala Holdings is jumping head-to-head with the Covenant Postmodern real estate investment in state and national sectors with significant investment in bricks and mortar and e-commerce. .
Company executives announced Wednesday morning that they are closing in on three fitness equipment companies, a Texas-based e-commerce and fitness equipment distributor at 23 retail outlets in Dallas-Fort Worth, Austin, Houston and San Antonio Markets.
Companies being purchased include Fitcorp at the Dallas-Fort Worth Market, Fitness in Austin and San Antonio and Houston Equilate Inc.
The terms of the agreement are not specified.
Integrated entities The new company, MyFitnessStore.com, Will be a full-service fitness equipment distributor that provides a wide range of fitness equipment through e-commerce, residential and commercial users.
MyFitnessStore.com includes Texas-based specialized fitness dealers Busybody, Fitness HQ, Fitness in Motion, Fitness Unlimited, TX Home Fitness and Winston Fitness.
It also relies on highly trained fitness equipment staff, the company said.
The company’s executive team is led by CEO Paul Ravaris and President Craig Levin. The board of directors includes Ralph Manning, CEO of Coltala. Coltala President Edward Crawford and former Gold GM CEO Brandon Bean, who serves as the board’s advisor.
“Only if we do all three will make the business meaningful,” Maning said. “When we first talked about the opportunity to bring together three different companies at the same time and place, it looked like a steep hill. But they liked the vision we had built.
Levin said in a statement: “My vision is to have stores throughout Texas and beyond, and with the help of Coltala we will serve more customers than ever before. I have worked in this industry since I was 15 years old; Twenty-eight years later, I still do not know much about the future of our company.
According to Crawford and Manning, the acquisition itself, in line with Coltala’s “margin and mission” mantra, gives the company an equal footing in terms of business.
The investment is also related to changes in the market place caused by the epidemic, which forced consumers to work in the gym due to closed closures or inconvenience.
Jim and Jim Frances are still recovering from the epidemic, especially with access to exercise options at home.
A survey by the National Association of Builders shows that by 2020, 47% of homebuyers consider a home gym to be important or desirable. Wall Street Journal.
“The big gyms were the biggest losers in Covd, and boutique gyms and home-mix models are coming out,” Crawford said. “We think that’s here to stay.
Working at home is no longer part of the game of accountability or competition with digital interactive devices.
“With technology, fitness has really improved and people continue to change. [working out] ሺ ‘OK, Wow, I can really do this and be effective, and I don’t feel like I’ll be alone,’ says Maning.
Many others are bringing their coaches home.
Coltala believes that the demographics of indoor sports have also changed. Gone are the days when Robin Leach became rich and famous. Of course, a person can spend up to $ 100,000 to build a house. However, they can easily be a small partition for the device to store in an empty space or basement.
“Actually, right now, the home gym is for the masses,” says Crawford. “For many people who do it in small apartments or in their garages, there are opportunities at different price points. You are really seeing the wholesale market trend for home gym.”