Crunch Franchisee Fitness Ventures LLC Acquired in Expansion Play
Fitness Ventures LLC is the latest Crunch Fitness franchise group to eye aggressive expansion
Fitness Ventures LLC, Crunch Fitness’ second-largest franchisee, is getting more fuel and added direction as it pursues cross-country expansion.
Meaningful Partners, an investment firm focused on middle-market and growth consumer companies, has acquired the franchise group.
Meaningful Partners will assist Fitness Ventures as it builds on its 47 Crunch locations across 25 different states, touching on its lengthy experience in scaling multi-unit businesses. New developments, mergers and acquisitions are expected following the agreement.
“Crunch Fitness provides one of the most relevant offerings at deep value, meeting a long-term consumer theme of ‘quality at value,'” said Amin Maredia, co-founder and managing partner of Meaningful Partners. “We are thrilled to support Fitness Ventures in their mission to expand their reach and impact in the fitness industry.”
Meaningful Partners has a history of working with health and wellness brands. The group invested in Allies of Skin, a science-back skincare brand earlier this year as well as M2 Ingredients, a vertically integrated nutraceuticals platform that provides whole-body health benefits via organic functional mushrooms.
“We are extremely excited about our partnership with Meaningful Partners as we continue to execute on our de novo and M&A growth strategy,” said Brian Hibbard, CEO of Fitness Ventures. “The Meaningful team’s background and experience in rapid scaling of multi-unit locations nationally makes them an ideal partner for our next growth phase. Our team is energized and excited to get to work.”
Jim Rowley, the global CEO of Crunch Fitness, even commented on the deal.
“I have immense respect for Amin and his remarkable accomplishments,” Rowley said. “His leadership and vision have made a profound impact, and we are excited about the potential this partnership brings.”
Crunch currently has 2.5 million members across 460 gyms worldwide. Its “No Judgments” gyms operate in 41 states and the District of Columbia, as well as Australia, Canada, Costa Rica, Portugal, Puerto Rico and Spain. Under Rowley, Crunch has its sights set on aggressive expansion.
Fitness Ventures isn’t the only Crunch franchise group looking to broaden its horizons.
Earlier this summer, JF Fitness of North America added eight new gyms in Alabama, Georgia and South Carolina after acquiring fellow Crunch franchisee Team Roldan. JF Fitness also aims to expand further after receiving an investment from Dallas-based private equity firm Trive Capital.
CR Fitness, Crunch’s largest franchising group, earlier announced plans to launch a mega-Crunch club in Altamonte Springs, Florida, with 16 more locations set to open by the end of the year as well.