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ICON HEALTH & FITNESS TO ACQUIRE HEALTHRIDER

Published: Tuesday, July 9 1996 12:00 a.m. MDT

ICON Health & Fitness Inc., headquartered in Logan, said Tuesday it has agreed to acquire the assets of HealthRider Inc.

Terms of the deal were not disclosed and it is subject to regulatory approvals."HealthRider has developed a strong brand name over the past few years," said Gary Stevenson, Icon's president and chief operating officer. "It will fit in nicely with our other brands and it will complement our current product offerings."

HealthRider, founded by Gary and Helen Smith and based in Salt Lake County, manufactures the HealthRider, aeROBICRider and SportRider exercise products. It recently moved into a new corporate headquarters in a new office park near the mouth of Big Cottonwood Canyon.

ICON was founded in 1977 by Scott Waterson and Gary Stevenson. Originally known as Weslo, its product line includes such brand names as ProForm, Weslo, Image, Weider, WeiderCare and JumpKing - exercise bikes, treadmills and other fitness products.

For its fiscal year ended May 31, ICON had revenues of $747.5 million. The company has manufacturing plants in Logan, Smithfield and Clearfield, Utah; Garland, Texas and Denver, Colo.

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