Boutique fitness franchisor returns to 10-brand portfolio and transitions treadmill-based interval training concept to private ownership
Xponential Fitness aims to enter the weight loss drug space with its recent acquisition of Lindora Metabolic Health Clinic and transfer of the treadmill-based interval training Stride Fitness brand to Stride Fitness Franchising, Inc., owned by Rumble President Shaun Grove. completed the sale of. boxing.
In an email sent to franchise partners Thursday morning, Xponential President Sara Luna confirmed that Stride Fitness will transition from the Xponential portfolio to “private new ownership” effective today.
Luna wrote that the decision to sell Stride from Xponential was “carefully considered” as the boutique fitness and wellness franchisor “considered the brand’s needs.”
She also assured that Stride is in the hands of “incredibly qualified and capable leaders,” writing that further updates will be shared directly with the Stride Fitness team and its franchisees. I concluded the email. Xponential provides “transition support” to new owners.
With this move, Grove will step down as president of Rumble Boxing. Grove previously served as president of Club Pilates and has been with Xponential since the brand’s inception in 2017.
The boutique franchisor has begun a search for Mr Grove’s successor, but confirmed that Rumble Boxing’s chairman has agreed to remain in the role until a successor is found.
“We are committed to ensuring profitable growth, optimizing the global customer experience, and creating long-term value for our stakeholders,” said Anthony Geisler, founder and CEO of Xponential Fitness. We are continually evaluating our portfolio of brands to move forward.” “We are pleased to transition the Stride brand to an operator with nearly a decade of experience owning and operating franchises prior to joining Xponential. After considering potential alternatives to Stride, We have concluded that this transaction is the best option for the Xponential and Stride brands.”
Xponential represents less than 1% of Stride Fitness’ open studio locations as of December 31, 2023, and the sale is not expected to have a material impact on 2024 revenues. he pointed out.
This is a developing story and may be updated with additional information.
