The Hoffmann Family of Cos. headquartered in Naples 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 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 owns 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. 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 on Marco Island in 2020, bringing their total number of water sport rental locations to 10 for the upcoming season at LaPlaya Beach & Golf Resort in Naples.
Established in 2002, Young Harris will continue to operate under its current leadership. Lance Markham, the company’s president stated “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”.
The Hoffmann Family of Cos., now has over 90 brands in its portfolio and owns more than 200 commercial properties across the United States with over 300 locations worldwide.