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Loyalty360 Reads: April 6 | Peloton Completes Precor Acquisition; Carrier Kicks Off Support of Habit




Peloton Completes Precor Acquisition
Peloton announced that it has officially closed the acquisition of Precor, one of the largest global commercial fitness equipment providers with a significant U.S. manufacturing presence.

With this acquisition, Peloton establishes its U.S. manufacturing capacity, anticipates boosting research and development capabilities with Precor's highly-skilled team and accelerating Peloton's penetration of the commercial market. Peloton plans to produce connected fitness products in the United States before the end of the calendar year 2021.

"This is a major milestone for Peloton and our global community," said William Lynch, Peloton's President. "We've spent the last few months learning more about Precor's relentless focus on the customer experience and we're now even more enthusiastic about welcoming this talented team to Peloton.”
Carrier Kicks Off Support of Habitat for Humanity's Home is the Key Campaign
Carrier is supporting Habitat for Humanity International's Home is the Key campaign, aimed at unlocking more families' futures with homeownership – a fundamental steppingstone to better health, more financial freedom and security.

The company has begun its fundraising effort with an initial $250,000 donation to the campaign and will continue to raise awareness throughout the month of April by engaging its distributor and dealer network and employees through advertising, social media, and digital outreach efforts. Carrier is a part of Carrier Global Corporation, the leading global provider of healthy, safe and sustainable building and cold chain solutions. 
Court Rules Against Tyson in False and Misleading Advertising Case
The District of Columbia Superior Court rejected the motion to dismiss a lawsuit brought by Organic Consumers Association (OCA) and Food & Water Watch against Tyson Foods alleging the company makes deceptive sustainability and animal welfare marketing claims about Tyson chicken products.

The lawsuit was filed in July 2019, under the District of Columbia Consumer Protection Procedures Act (CPPA). The nonprofits are represented by Richman Law & Policy, Animal Equality, and counsel for Food & Water Watch.
Destination Maternity Admits Privacy Incident
Destination Maternity advised customers of a recent event that may impact the privacy of certain personal information. On March 20, the company experienced a cyber event that impacted certain information technology systems.

They say they immediately took steps to isolate those systems and, as part of our comprehensive response, launched an investigation to determine the nature and scope of the incident. They say they are working with a leading information security firm to assist in our response and support the investigation.
Hertz Selects Equity Sponsor For Its Chapter 11 Exit
Hertz announced that it has selected an enhanced proposal from Centerbridge Partners, L.P., Warburg Pincus and Dundon Capital Partners to provide the equity capital required to fund Hertz's exit from Chapter 11, keeping the company on track to conclude its Chapter 11 case in June 2021.

The deal is reflected in definitive executed documents, including, (1) an Equity Purchase and Commitment Agreement, (2) a Plan Support Agreement, (3) a Bridge Financing Commitment for Hertz International Ltd., (4) an Amended Chapter 11 Plan of Reorganization (the "Plan"), and (5) an amended Disclosure Statement (collectively, the "Transaction Documents"), which have been filed with the Delaware Bankruptcy Court presiding over Hertz's Chapter 11 case.


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