Fitness and sporting-goods businesses Weider Sporting Goods Inc., of the United Kingdom, and Weslo Inc. and ProForm Fitness Products Inc., both of Logan, have consolidated under the name of Weider Inc., and will have a headquarters in Logan.
The new company represents 35 percent of the $2 billion-a-year home-fitness segment of the sporting-goods industry.Joe Weider, founder of the Weider group of companies, said Weider Health and Fitness, Woodland Hills, Calif., will be the majority stockholder of Weider Inc. It also will remain the parent company of Weider Publications Inc. and Weider Nutrition Group.
The board of directors of Weider Inc. also announced the signing of an agreement in principle to acquire Rickbend/Athletimonde/Fitquip, Quebec, Can., a manufacturer and supplier of Weider sporting goods equipment, and Weider Sporting Goods Division of Europe, which is primarily a distributor of Weider products.
The board announced that Richard J. Renaud of Montreal, Can., chairman, president and chief executive officer of Weider Health and Fitness, will be chairman of Weider Inc. Eric Weider of Woodland Hills, executive vice president of Weider Health and Fitness, will be vice chairman.
Other officers are Scott Watterson of Logan, co-founder and president of ProForm and Weslo; president and chief executive officer; Gary Stevenson of Logan, co-founder of ProForm and Weslo, chief operating officer; Fred Beck of Logan, chief financial officer; and Pierre Boivin of Woodland Hills, president of Weider Sporting Goods Inc., senior vice president.
With the consolidation, Weider Inc.'s brand names now include Weider, WeiderCare, Weslo, ProForm, Image, Jumpking, Legend and the recently licensed Jane Fonda name. These firms have all been Weider companies, but never consolidated.