In a recent announcement, the Hoffmann Family of Cos., headquartered in Naples, has acquired Young Harris Water Sports & RV in Georgia as part of a nationwide expansion of its water sports subsidiary. This latest addition to the company’s portfolio includes boat and jet ski rental centers in Lake Chatuge and Lake Oconee in northern and central Georgia, as well as parts and service, new and used boat sales, wakeboard supplies, and two RV dealerships. The family has stated that this investment is part of an expansion plan which may include additional water sport rental locations not only in Georgia, but also in North Carolina, South Carolina, Hawaii, and possibly beyond.
The specific terms of the sale were not publicized, including the purchase price. In the past four years, the Hoffmanns have acquired more locations such as Regency Water Sports 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 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 90 brands in its portfolio and owns more than 200 commercial properties in the United States with over 300 locations globally.