Fitness company ep fitness says it is buying the fitness business of fitness company colaw fitness.
The deal will be subject to regulatory approvals.ep will also acquire and develop other products, including clothing, eyewear and accessories, the company said in a statement.
Ep, which is based in the United Kingdom, is one of the largest retailers of fitness equipment in the world.ep said the acquisition of colaw is intended to create an entirely new and differentiated company.ep and colaw are currently in talks about a new partnership, it said.
The sale of ep Fitness, which competes with fitness retailer Fitbit, has been delayed.
Ep’s fitness business is a subsidiary of colaws fitness.ep shares rose about 1% in early trading, or $2.50, to $3.14.