In recent news, the Hoffmann Family of Cos. has announced a strategic acquisition as part of a nationwide expansion of its water sports subsidiary. The newest addition to the company’s portfolio is Young Harris Water Sports & RV in Georgia, which operates boat and jet ski rental centers in Lake Chatuge and Lake Oconee in northern and central Georgia. It also provides services such as parts and service, new and used boat sales, wakeboard supplies, and owns two RV dealerships. Additionally, it is the exclusive water sports recreation provider to The Ritz-Carlton Reynolds at Lake Oconee.
The specific terms of the sale were not publicized, including the purchase price. However, the Hoffmanns have stated that this investment is part of an expansion plan which may include the establishment of additional water sport rental locations not only in Georgia, but also in North Carolina, South Carolina, Hawaii, and possibly beyond. In the past four years, the family has acquired more locations such as Regency Water Sports in 2020 and will soon have a total of 10 water sport rental locations globally. These locations include the soon-to-be-opened location at LaPlaya Beach & Golf Resort in Naples for the 2024 season.
Established in 2002, Young Harris will continue to operate under its current leadership. In a statement Lance Markham, president of Young Harris said “This acquisition provides our company with expanded access to resources enhances our operational capabilities grants us financial means to upgrade equipment or venture into new rental opportunities”. He added “We view this as a mutually beneficial development for our dedicated employees valued customers esteemed investors.”
The Hoffmann Family of Cos now has 90 brands in its portfolio and owns more than 200 commercial properties in the United States with over 300 locations worldwide employing over 9 thousand people globally.