Fitness retailer Push, Pedal, Pull, with 10 locations throughout the Midwest, has a new owner, after it's parent firm, RD Rogers Co. sold to GetFit Holdings Inc. of Lakeville, Minn., for an undisclosed amount.
Though representatives from Push, Pedal, Pull (also known as P3) and GetFit Holdings Inc. declined to speak with SNEWS, RD Rodgers Co.'s Roger Stewart said in a letter to all employees: “Quite simply, it is time,” to sell and retire. “My mixed feelings come from the fact that this company is part of me and you employees are like family,” Stewart wrote to his staff. RD Rodgers owned P3 for 26 years.
Laura Capes, P3’s marketing director, said GetFit Holdings, Inc. is a brand-new company — so new the company has yet to be listed on Minnesota's list of registered business entities online, nor does the company have a website.
“I’m very optimistic,” Capes said. “I’m being told that we’re going to grow, which is exciting.”
Stewart wrote the new owners will bring fresh ideas, energy and plans for growth, and said they plan to keep the P3 name, which has been known in the industry for many years.
“I believe the power of the Push, Pedal, Pull brand is 26 years strong and we’ve been working very hard to have a strong online presence the last couple of years,” Capes said. “I can’t imagine that we could walk away from that legacy.”
P3’s Chief Operating Officer Todd Ibis will remain in his position, and Martin Bruder, who has more than 15 years of experience in both specialty retail and health clubs, has been named president.
“I look forward to working with Martin as he’s been very successful in this industry,” Ibis said in a news release. “The P3 brand will continue its strong presence in the Midwest.”
The news release did not give any further information on GetFit Holdings, Inc., nor did it provide any information on whether there would be other personnel changes. P3 currently employs more than 90 people.
“Todd will continue to lead the company and we expect no changes to be made in existing personnel,” Stewart wrote in his letter to employees, “though, ultimately, that is of course for the new owner to decide.”
A few of P3 competitors that talked to SNEWS, but did not want to be named, said they’d never heard of GetFit Holdings, Inc., and have no particular opinion on the sale. P3 has 10 retail stores, down from 16 in 2006, and will keep its base in Sioux Falls, S.D.