The Hoffmann Family of Cos. headquartered in Naples has recently announced a strategic acquisition as part of a nationwide expansion of its water sports subsidiary. This expansion began with the purchase of Marco Island & Naples Beach Water Sports in 2019, followed by the acquisition of Young Harris Water Sports & RV in Georgia. The newest addition to the company’s portfolio is a boat and jet ski rental center located 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. 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, its competitor on Marco Island, in 2020. By 2024 they will have a total of 10 water sport rental locations.
Young Harris Water Sports & RV will continue to operate under its current leadership with Lance Markham being their president stating that this acquisition provides their company with expanded access to resources and enhances operational capabilities while granting them financial means to upgrade equipment or venture into new rental opportunities. He added that it’s a mutually beneficial development for their employees, customers and investors alike.
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 globally employing over 9,000 people worldwide.