CrossFit seeks new ownership.
The latest: The fitness company is on the market again, announcing plans to “review a wide range of buyers” amid declining gym affiliations and rising competition.
Founded in the 1990s by Greg Glassman, CrossFit grew to 14K affiliated gyms worldwide by 2018, but has faced controversies and market shifts in recent years:
- Its affiliate network declined to ~10K gyms, with 1.4K+ canceling after a competitor’s drowning death at the 2024 CrossFit Games.
- Registration for the CrossFit Open is down 30% this year to 234K participants.
- Berkshire Partners, which acquired CrossFit in 2020, raised annual affiliation fees from $3,000 to $4,500 in 2024.
Catch up. As CrossFit struggles, alternative fitness formats are surging.
Fitness racing company HYROX has exploded by prioritizing functional movements over technical barbell and gymnastics skills. Scaling purpose-built training centers and gym affiliates, it’s competing with CrossFit on multiple fronts.
Elsewhere, run groups, social clubs, and sauna studios are ushering in the next generation of fitness consumers with a “soft wellness” ethos.
TBD. Swiss holding company BeSport, owner of sports apparel brand Northern Spirit and gym membership app Hustle Up, appears to be the frontrunner to acquire CrossFit.
CEO Don Faul says the ideal buyer would be “someone with connection to our community,” who can help reverse declining affiliate numbers and participation.
Looking ahead: CrossFit’s hardcore approach faces competition from more accessible and community-focused alternatives, meaning the brand’s next owner will need to balance CrossFit’s intense identity with evolving consumer preferences.
