LAS VEGAS, NV (BRAIN) — America’s only Tour de France winner, Greg LeMond, did not make an appearance at Interbike last week, and the LeMond Fitness booth his company had reserved was not used.
The company, which makes stationary trainers for the bike shop market and stationary bikes for the fitness market, appears to be in a transition period. Its fitness products were on display in the Health+Fitness Business expo area, in the Hoist Fitness booth.
Hoist, a 35-year-old privately held company, was in negotiations to buy LeMond Fitness, CEO Jeff Partrick said Wednesday.
“We are under contract but it hasn’t closed yet,” said Partrick, who was wearing a black polo short embroidered “LeMond, Powered by Hoist Fitness.”
“We are pretty sure we have a deal and we will close in the next week or so,” he said.
He said it’s “undetermined” whether Hoist will buy both parts of LeMond’s business. He said he expects to work with Greg LeMond on product development and endorsements after the purchase.
Hoist did not take orders at the show for LeMond equipment.
Patrick said if Hoist completes the purchase, he expected to move LeMond’s operations from Washington to Hoist’s headquarters in San Diego.
The purchase would broaden the product line at Hoist, which until now has focused only on strength training equipment. Hoist products are sold to commercial fitness clubs, the government and to consumers. Its consumer products are sold through speciality retailers.
“That’s what makes LeMond a nice fit,” Patrick said. “It’s a great product, it needs a good home.”