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 and has now added Young Harris Water Sports & RV in Georgia to its portfolio.
Young Harris operates boat and jet ski rental centers in Lake Chatuge and Lake Oconee in northern and central Georgia, providing services such as parts and service, new and used boat sales, wakeboard supplies, and owning two RV dealerships. It is also 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 establishing 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 on Marco Island in 2020 and will soon have a total of 10 water sport rental locations. 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. Lance Markham, the company’s president said “This acquisition provides our company with expanded access to resources enhances our operational capabilities grants us financial means to upgrade equipment venture into new rental opportunities.” He added “We view this as mutually beneficial development for our dedicated employees valued customers esteemed investors.”
The Hoffmann Family of Cos. now owns more than 90 brands in its portfolio with over 300 locations globally and employs over 9,000 people worldwide.