Digital fitness provider Wexer hopes to gain scalability and announces strategic acquisitions within the digital segment, after being acquired by Core Health & Fitness.
(22-4-2022). Core Health & Fitness has acquired the digital fitness company Wexer, with which it will begin a strategy to promote hybridization and omnichannel in the fitness sector.
Core Health & Fitness goes one step further in digital fitness and confirms the acquisition of Wexer, a company specializing in digital health and fitness content, in an operation whose financial terms have not been disclosed.
The agreement will provide Wexer with funds to scale its business, contemplating acquisitions within the digital segment to consolidate its position. As well as new agreements with sports clubs and gyms to promote omnichannel, as explained by the two companies in a statement.
Commenting on the deal, Jason Leone, President of Core, comments: “Post-Covid, the fitness industry is placing a greater emphasis on connected fitness. Although many consumers are returning to in-person training, it is expected that they will continue to complement their training with digital sessions, highlighting the importance of offering an omnichannel experience.”
Paul Bowman, CEO of Wexer, said: “This is a momentous step for Wexer as it simultaneously gives us the support, investment and distribution we need to dramatically scale our business and accelerate toward our mission of hybridizing the fitness industry. . The opportunity to work closely with Core Health & Fitness, collaborating with its entire portfolio of brands and products globally to build an even more diverse digital ecosystem, is another great benefit of this acquisition. We are delighted with our new ownership and excited by its implications not only for Wexer, but for the industry as a whole.”
Adds Gainline Partner Rick Sullivan: “As a leading B2B provider to the global health and fitness market, we see Wexer as a natural extension of the Core business model.”
The collaboration will kick off with a global roadshow designed to educate and inspire the fitness industry around the need to embrace omnichannel fitness. Exploring the impact a digital offering has on gym membership sales, upsells and user retention, the roadshow will provide insights into not only why, but also how to shift the business towards a sustainable and hybrid environment.