The Hoffmann Family of Cos. has 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 now includes Young Harris Water Sports & RV in Georgia. Young Harris operates boat and jet ski rental centers in Lake Chatuge and Lake Oconee in northern and central Georgia, provides 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. However, it is known 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. They currently have a total of 10 water sport rental locations and will soon have a location at LaPlaya Beach & Golf Resort for the 2024 season.
Young Harris Water Sports & RV will continue to operate under its current leadership with Lance Markham stating “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. We view this as a mutually beneficial development for our dedicated employees, valued customers and esteemed investors.”
The Hoffmann Family of Cos. now has over 90 brands in its portfolio and owns more than 200 commercial properties in the United States with over 300 locations globally and more than 9,000 employees worldwide.