Hoffmanns Expand Water Sports Rental Business with Georgia Acquisition
The Hoffmann Family of Cos., headquartered in Naples, has recently announced a strategic acquisition as part of its nationwide expansion of its water sports subsidiary. This expansion began with the purchase of Marco Island & Naples Beach Water Sports in 2019. 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, Lance Markham, president of Young Harris Water Sports & RV 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 fact, the Hoffmann Family has been acquiring more locations over the past four years such as Regency Water Sports in 2020 and will soon have a total of 10 water sport rental locations globally. These locations include a soon-to-be-opened location at LaPlaya Beach & Golf Resort for the 2024 season.
Established in 2002, Young Harris will continue to operate under its current leadership. With this acquisition providing expanded access to resources and enhancing operational capabilities while granting financial means to upgrade equipment or venture into new rental opportunities according to Markham’s statement “This acquisition provides our company with expanded access to resources, enhances our operational capabilities and grants us the financial means to upgrade equipment or venture into new rental opportunities.”
In summary, The Hoffmann Family of Cos., one of Florida’s most successful companies headquartered in Naples has acquired Young Harris Water Sports & RV from Georgia as part of a nationwide expansion plan for its water sports subsidiary that includes additional rental locations not only across Georgia but also other states such as North Carolina
