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.
We break down how fitness, wellness, and healthcare are converging — and what it means for business, culture, and capital.
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