Barry’s Weighs Possible Sale

Barry’s is testing the waters.

The news: The HIIT studio operator is working with advisors to explore strategic options, including a possible sale, per Bloomberg.

Pumped up. Known for 50-minute cardio + strength interval workouts, Barry’s counts 84 studios in 14 countries.

Poised for growth, the company tabled expansion plans during the pandemic — laying off two-thirds and securing funding from LightBay Capital to weather closures.

Back to business, Barry’s is bulking up.

• It plans to open three studios in the LA area through H1’24.
• The company opened its second RIDE x LIFT cycling studio in February.
• Internationally, it entered Spain and Israel, with Bahrain and Egypt in development.

Riding the momentum, the 25-year-old brand plans to double locations in five years.

Cashing in. Across the board, brick-and-mortar fitness is gearing up for growth. Last month, Equinox added $1.8B in financing to open 25 new clubs, and Orangetheory Fitness merged with Self Esteem Brands.

Punchline: Seeking a $700M valuation back in 2020, Barry’s will command a premium for its high-end operation. While the pool of potential buyers is limited, the company believes its upside is vast.