Crunch Canada CEO says investment from the Texas-based private equity firm and 808 Capital Partners will drive multiple near-term growth opportunities, including the development of new clubs
Crunch Canada, an Ontario-based Crunch Fitness franchisee, has received investment from Trive Capital and 808 Capital Partners.
This is Trive Capital’s second investment in Crunch Fitness, following its investment in Virginia-based Crunch Fitness franchisee JF Fitness of North America in June.
“We are excited to partner with Trive and 808, who share our vision of delivering exceptional fitness services to our members,” said Wesley Hodgson, CEO of Crunch Canada. “Our new partnership and collaboration provides A unique opportunity to enhance our capabilities, expand our leadership team and capture a number of near-term growth opportunities, including new club development and select acquisitions.”
Jared Reyes, managing director of Trive Capital, noted that Trive is impressed with Crunch Canada’s track record in opening and operating clubs. Currently, Crunch Canada is the designated master franchise in Canada, with 19 company-owned gyms and 13 franchised gyms.
“We see tremendous opportunity in the Canadian market to expand the company’s footprint and membership base,” he added.
Chequan Lewis, who was named president of Crunch Fitness earlier this year, said the company is pleased to see Trive and 808’s continued investment in Crunch.
“We value their support austerity canada As Wes and the team continue their plan to grow the club and strategically deliver Crunch’s unique fitness experience to a broader consumer base in Canada,” said Lewis.
In an interview with Athletech News this summer, Crunch Fitness CEO Jim Rowley said high-value, low-priced fitness franchises have huge appeal in the Middle East, Asia Pacific, Western Europe and South America, but he Emphasize that the Crunch brand is an “electric” brand in Canada.
“The North American fitness industry continues to demonstrate strong fundamentals as consumers become more health-conscious and new age groups enter the fitness industry,” said Shravan Thadani, partner at Trive Capital. “Given its attractive, high-convenience “
