|Brunswick Corporation : Brunswick Completes Acquisition of Germany's Indoor Cycling Group|
LAKE FOREST, Ill. Aug. 31, 2016 - Brunswick Corporation (NYSE:BC) today announced it has completed its acquisition of Indoor Cycling Group (ICG), a market leader specializing in the design of indoor cycling equipment. ICG, based in Nuremburg, Germany, is now part of Life Fitness, a unit of Brunswick.
Originally announced in late July, this transaction was recently approved by the German competition authority. Terms of the transaction were not disclosed.
"This transaction is another step in our efforts to broaden and deepen our fitness product portfolio as well as secure a strong leadership position in group training, a growing sector of the fitness market," explained Brunswick Chairman and Chief Executive Officer Mark Schwabero.
Since 2015, Brunswick has acquired both Cybex, a leading maker of commercial fitness equipment, and SCIFIT, a leading provider of exercise equipment tailored to the needs of the growing number of active aging seniors as well as the medical wellness and rehabilitation fitness segments.
ICG will have minimal impact upon Brunswick's 2016 results.