Barry’s Bootcamp Said to Weigh Potential $700 Million Sale
Barry’s Bootcamp Is Said to Weigh Potential $700 Million Sale
(Bloomberg) -- Barry’s Bootcamp, which offers high-intensity workouts at more than $30 a class, is considering strategic options including a sale, according to people familiar with the matter.
The company has interviewed advisers for a role on a potential sale, which could value Barry’s at about $700 million, said the people, who asked not to be identified because the discussions are private. Prospective suitors are likely to be contacted regarding a process that would begin early next year, the people said.
Since 2015, Barry’s has been majority-owned by North Castle Partners, a private equity firm based in Greenwich, Connecticut, that has invested in boutique fitness offerings such as pilates studio operator SLT and climbing-focused Brooklyn Boulders. The firm’s investments have also included more traditional gyms including Equinox and CR Fitness, a franchisee of Crunch Fitness.
Private equity firms have increasingly been investing in fitness concepts, partly due to an increased focus by consumers on health and wellness. Earlier this year, TSG Consumer Partners acquired CorePower Yoga from L Catterton and TPG Growth bought Crunch Fitness.
Barry’s Bootcamp offers hour-long workouts that combine cardio and strength training, against a backdrop of loud music. The company’s chief executive Joey Gonzalez, as well as Barry’s co-founders Barry Jay, Rachel Mumford and John Mumford, are also investors.
Representatives for both Barry’s and North Castle declined to comment.
Barry’s, based in Los Angeles, has more than 70 studios either open or in development across 13 U.S. states and districts as well as other countries including Australia, the U.K. and France, according to its website.
To contact the reporters on this story: Kiel Porter in Chicago at kporter17@bloomberg.net;Gillian Tan in New York at gtan129@bloomberg.net
To contact the editors responsible for this story: Liana Baker at lbaker75@bloomberg.net, Michael J. Moore, Pierre Paulden
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