Ohio retailer acquires Tampa Bay Spas

For Watson’s president and CEO Erik Mueller, investing in the Tampa Bay region made sense. 

The Ohio-based home recreation product retailer has acquired Tampa Bay Spas. Financial details of the deal were not disclosed. 

With the purchase, Watson’s is now overseeing three locations in Tampa, Lakeland and Brandon. The company has a total network of 42 corporate and franchise stores, including seven in Florida. 

The purchase follows the acquisitions of Sarasota Hot Springs and Recreational Warehouse, which has locations in Fort Myers, Naples and Port Charlotte. Mueller emphasized that Florida has been a key part of the organization’s national growth strategy. 

“Tampa was kind of our next natural transition,” he said. “It was a market that we were very much interested in being in. So, when this opportunity presented itself, the strategies kind of aligned.”

Watson’s president and CEO Erik Mueller

Tampa Bay Spas, in particular, was attractive. The acquisition has been in the works for about six to seven months. 

“They have been in business for over 25 years,” Mueller explained. “They had the basic infrastructure that we were looking for.” 

Founded in 1968, Watson’s sells products such as hot tubs, furniture, pool supplies, fire pits, saunas, billiard tables and shuffleboards. He added that the three Tampa Bay Spas locations are expected to transition to the Watson’s brand within the next six months. 

“We like the long-term prospect of the portable spa business,” Muller said. “I still think the total addressable market is a good sized opportunity across the country.”

According to a prepared statement, the organization plans to expand to more than 75 locations over the next several years. 

“We’ll continue to look for the right acquisitions that make sense for us,” Mueller said. “We’re not trying to be overly aggressive and just acquire to acquire and scale. We’re looking for the right cultural fits most importantly. These are companies that align with our core values.” 

He added that Watson’s is exploring regions that “allow us to leverage some of our existing infrastructure.” 

“We know that Tampa is obviously a large market,” Mueller said. “So, when the opportunity is right, what we are looking to do is grow the footprint of our locations. We may add additional locations.”

He explained that this will allow the company to expand its product offering at the stores. 

“After 25 years we would like to thank all of our customers for believing in us, and we look forward to continuing to provide each and every one of you with the best possible service we can, as we move into the future with the Watson’s organization,” said Tampa Bay Spas co-owner Dave Corson in a prepared statement. “For over 50 years, Watson’s has been providing their customers with industry leading experiences, and we look forward to growing the Florida market together.”