The Hoffmann Family of Cos. has recently announced a strategic acquisition as part of its national expansion plans for its water sports subsidiary. This expansion began with the purchase of Marco Island & Naples Beach Water Sports in 2019 and has now led to the acquisition of Young Harris Water Sports & RV in Georgia.
Young Harris, established in 2002, operates boat and jet ski rental centers in Lake Chatuge and Lake Oconee in northern and central Georgia. It is also the exclusive water sports recreation provider to The Ritz-Carlton Reynolds at Lake Oconee. In addition to rentals, the company offers parts and service, new and used boat sales, wakeboard supplies, and owns two RV dealerships.
The details of the sale have not been disclosed, but Lance Markham, the company’s president, stated that the acquisition provides Young Harris with expanded access to resources and enhances operational capabilities. It also provides financial means to upgrade equipment or venture into new rental opportunities.
The Hoffmann Family of Cos., which owns more than 200 commercial properties in the United States and has 300 locations globally, employing more than 9,000 people worldwide, sees this acquisition as part of its U.S expansion plan which may include additional water sport rental locations in Georgia as well as North Carolina, South Carolina, Hawaii and beyond.