A consortium led by L Catterton, the investment vehicle linked to the French group Louis Vuitton Moët Hennessy (LVMH), has closed a deal to acquire a majority stake in the German fitness brand Hyrox for around 600 million euros.
The company Infront Sports & Media has announced the sale of its controlling stake in Hyrox to the aforementioned consortium, which also includes the co-founders of the brand, Christian Toetzke and Moritz Fürste, along with the Silicon Valley venture capital firm WNDR. Although the parties have not disclosed the financial details of the transaction, sources familiar with the process cited by "Financial Times" place the amount of the operation at around 600 million euros.
In recent years, Hyrox has experienced a strong surge on an international scale. In the past season alone, more than 100 competitions were held under its brand, which brought together over 1.4 million participants and attracted more than 1.5 million spectators worldwide.
Hyrox is a fitness competition format that combines running with high-intensity functional exercises, allowing participation both individually and in pairs or teams. The pull of social media and the growing global interest in strength and endurance training have boosted the brand's visibility, which continues to expand in numerous countries.
"As specialists in the consumer sector, at L Catterton we closely follow market trends and believe that Hyrox enjoys a privileged position by having created a global movement around hybrid races, offering athletes from over 30 countries a space to train, compete, and pursue their personal goals," stated the CEO of L Catterton, Shena Willis.
"This acquisition marks a fundamental step in the rapid evolution of Hyrox's success story. As co-founders, it has always been our top priority to define the direction and development of Hyrox, as well as to guide the movement for the benefit of our global community. We are delighted to have found in L Catterton the ideal partner to guide Hyrox in this new stage," affirmed the founder of the firm, Moritz Fürste.
"Hyrox has created the largest series of mass participation fitness events worldwide. In the coming years, our priorities will focus on our Olympic aspirations, on continuing to welcome millions of people to the starting line of Hyrox, and on the opportunities we see to develop and invest in new products that enhance the Hyrox offering. We are grateful for the collaboration with Infront so far and we are very excited about the path ahead," added the also founder of Hyrox, Christian Toetzke.