Issue No. 304: Lost Art

Presented by
EGYM logo

A smart ecosystem transforming healthcare through exercise.


Creativity is central to wellness.

Hardwired

An emerging field, neuroaesthetics examines how art and beauty change the brain.

Triggering feel-good hormones, research suggests works of art unlock happiness and well-being — but the healing effects of sensory, aesthetic experiences are lost on most Americans.

Bored Sick

Wellness Nouveau

🎙 On the Podcast

Philipp Roesch-Schlanderer, Co-founder & CEO of EGYM

Fresh off announcing $200M in new funding, EGYM co-founder & CEO Philipp Roesch-Schlanderer discusses US expansion plans.

Now valued at over $1B, the Munich-based brand aims to prevent chronic disease through strength training.

We also cover: EGYM’s vertically integrated strategy, growing its corporate wellness program, and using AI to improve health outcomes.

Listen to today’s episode here.


💸 PepsiCo acquires Siete Foods for $1.2B

The Big Food brand scooped up the Mexican-American snack maker known for its grain-free versions of cultural staples.

Going big. The 10-year-old, family-owned company expects $500M in annual revenue by EOY.

Melting pot. Initially designed for Latinos with dietary restrictions, Siete’s products span almond flour tortillas and chips, wedding cookies, sauces, salsas, and more.

Hitting the mark, it raised $90M from Stripes in 2018, and actress Eva Longoria invested this year. Now, PepsiCo will look to bolster its multicultural and better-for-you portfolios.

Same but different. Recreating cultural comfort foods without artificial flavors—while lowering sodium and sugar—has proven profitable for upstarts.

Vietnamese-owned Omsom was acquired by DayDayCook in June, while Creole-inspired A Dozen Cousins and Middle Eastern-made Maazah have broken into major retailers.

Takeaway: Across cultures, healthy convenience is in demand. But, when it comes to ethnic foods, authenticity is key — meaning upstarts have a rare R&D edge on corporations.


Presented by EGYM

🔮 Shaping industry change

EGYM has a clear vision for the future of health and fitness.

With connected fitness equipment, AI-powered gym software, and comprehensive corporate wellness offerings — it’s leading the shift toward proactive, preventative health.

For corporations. Partnering with companies worldwide, EGYM’s Wellpass program improves employee health by expanding access to premier fitness and health facilities.

For gyms. Upgrading gym floors, EGYM equips operators with smart equipment and AI tools to create hyper-personalized training plans for every exerciser.

All together, its ecosystem is transforming healthcare through exercise.

Learn more about its intelligent solutions at EGYM.com.


🤝 L Catterton acquires [solidcore]

The investment firm bought a majority stake in the reformer-based boutique, valuing the company between $600M to $700M.

Renewed strength. Known for intense 50-minute classes, [solidcore] counts ~130 corporate-owned studios in 25 states.

Leading the Pilates boom, the company is pursuing domestic and international growth.

For its part, L Catterton remains bullish on the sector, signing recent megadeals with supplements maker Thorne and fitness technology company EGYM.

Trending. Competitors at the intersection of strength and functional movement are giving chase — with STRONG Pilates, F45’s VAURA Pilates and FS8, and JETSET pushing expansion.

Punchline: Rebranding around its “transformative” potential, [solidcore]’s new owners will look to grow beyond boutique enthusiasts to engineer a global movement.


📰 News & Notes

  • Meta’s Supernatural launches group VR workouts.
  • Samsung unveils healthcare-focused developer tools.
  • Remedy Place, Kohler partner on high-end cold plunge.
  • Fitness First accelerates in the UAE, plans club revamps.
  • AllTrails syncs with Apple Watch for phone-free exploration.
  • Ergatta releases Wavelength, its latest rowing fitness game.
  • Hilma launches women’s trail running shoe. [Re-read: Full Sprint]
  • WeightWatchers abruptly removes CEO amid restructuring woes.
  • Athlete neurofeedback training platform alphabeats names new CEO.
  • Private pool sharing marketplace Swimply adds Plunge ice bath owners.
  • Phy Health, Extension Health partner for in-clinic MSK health screenings.
  • Youll announces Miactive, a wellness app led by an elite F1 performance coach.
  • Optimize Mind Performance teams with Duke Athletics for mental skills training.
  • Hiring? Enlist our recruiters to access top talent from the Fitt Insider community.

💰 Money Moves

US 🇺🇸 / Canada 🇨🇦

PepsiCo acquired grain-free Mexican-American food brand Siete Foods for $1.2B.

Investment firm L Catterton acquired boutique studio chain [solidcore].

Smart strength brand OxeFit secured $17.5M, with backing from [solidcore] founder Anne Mahlum and entrepreneur Dave Asprey.

Global alcoholic beverage company Diageo acquired nonalcoholic spirits maker Ritual Zero Proof.

Moxie, a business development platform for medspas, raised $10M in a Series B led by Lachy Groom and Signalfire.

Lucky Energy, a better-for-you energy drink maker, closed an oversubscribed $11.75M Series A led by Brand Foundry Ventures.

Helaina, developer of human equivalent bioactive proteins for gut health and anti-aging, raised $45M.

Omega Fitness, an Anytime Fitness franchisee operated by Rainier Partners, acquired 21 Wisconsin-based Anytime gyms from MDS Fitness.

Europe 🇪🇺

German fitness technology company EGYM raised ~$200M in a round led by L Catterton.

UK-based digital men’s health clinic Manual secured £29.2M ($39M) in new funding.

Ireland’s Brace, a gamified injury rehabilitation platform, added €220K ($243K).

Asia 🌏

Korean AI-powered health diagnostics company Mediwhale raised $12M in a Series A2 round.

Indian mental health platform Lissun raised $2.5M in a round led by RPSG Capital Ventures.

HK-based Future Salad, creator of sustainability-focused nutrition mixes, secured $5M in a Series A.

Australia 🇦🇺 / New Zealand 🇳🇿

Aussie body composition tech maker Evolt raised $20M in pre-IPO funding.

MSK and sports rehab tech maker VALD secured undisclosed growth funding from FTV Capital.

 

Today’s newsletter was brought to you by Anthony Vennare, Joe Vennare, Ryan Deer, and Jasmina Breen.

Get the latest health and fitness industry news

Keep up with industry news, trends, investment activity, and job openings — in one weekly newsletter.

    No thanks.