The deal will provide Wexer with the funding to scale its business – including through significant acquisitions to consolidate the digital fitness sector – and drive digital adoption across the global health club sector.

“Coming out of Covid, commercial customers across gym and vertical market categories are placing an increased emphasis on connected fitness. Though many consumers are returning to in-person workouts, they expect to continue to complement these with connected fitness workouts, highlighting the importance of delivering an omnichannel experience,” said Jason Leone, president of Core.

Paul Bowman, Wexer CEO, described the acquisition a momentous step for Wexer, which simultaneously gives it the support, investment and distribution it needs to dramatically scale the business and accelerate towards the hybridisation of the fitness industry.

“The opportunity to work closely with Core Health & Fitness, collaborating across its portfolio of globally recognised brands to build an even more diverse digital ecosystem, is another huge benefit of this acquisition. We are delighted with our new ownership and excited by its implications not only for Wexer, but for the sector as a whole.”

The collaboration will begin with a global roadshow designed to educate and inspire the fitness sector round the need to embrace omnichannel fitness. Exploring the powerful impact that a digital offering has on health club membership sales, up-sales and member retention, the roadshow will support operators with insights not only into why but also how to make the business-critical shift to a sustainable hybrid model.