Core Health & Fitness LLC announced that it had acquired Wexer Holding, LLC, a specialty brand in digital health and fitness. Financial terms of the transaction weren’t disclosed.
The deal will provide Wexer with the funding to scale its business through acquisitions to consolidate the digital fitness category and drive digital adoption.
Jason Leone, president, Core Health & Fitness, said, “Coming out of COVID, commercial customers across gym and vertical market categories are placing an increased emphasis on connected fitness. Though many consumers are returning to in-person workouts, they expect to continue to complement these with connected fitness workouts, highlighting the importance of delivering an omnichannel experience.”
Paul Bowman, Wexer Holding CEO, said, “This is a momentous step for Wexer, simultaneously granting us the support, investment and distribution we need to dramatically scale our business and accelerate towards our mission of hybridizing the fitness industry. The opportunity to work closely with Core Health & Fitness, collaborating across its portfolio of globally recognized brands to build an even more diverse digital ecosystem, is another huge benefit of this acquisition. We are delighted with our new ownership and excited by its implications not only for Wexer but for the sector as a whole.”
Rick Sullivan, a partner at Gainline, added: “As a leading B2B supplier for the global health and fitness market, we see Wexer as a natural extension of Core’s business model.”
Core’s products are sold under the brands of StairMaster, Schwinn, Nautilus, Star Trac, and Throwdown.
Photo courtesy Wexer Holding