Private equity firm, Leonard Green & Partners is acquiring a majority interest in Crunch Fitness from TPG Growth and Crunch’s minority shareholders.

Since TPG invested in Crunch in 2019, the brand has experienced remarkable growth, adding more than 2.1 million members – a 176 per cent increase. Adding 275 locations, it has doubled in size and now has more than three million members at its 500 gyms worldwide. On average, it is opening a site each week.

Earlier this year the operator unveiled a rebrand, Crunch 3.0, which includes the addition of hot studios and recovery areas and is working to elevate the member experience with a focus on welcoming reception areas and uplevelled service standards..

“This is an exciting new chapter for Crunch,” said Jim Rowley, CEO of Crunch Fitness. “Leonard Green & Partners has a phenomenal track record of success and investing in consumer brands, and we’re confident their strategic insight and operational expertise will only continue to accelerate our growth while staying true to our core values.

“We’re incredibly grateful to TPG for being an exceptional partner over the past five-plus years. Their support and commitment – especially during the challenges of the pandemic – helped drive our transformation and rapid expansion.

“We also want to thank our amazing franchisees whose passion and entrepreneurial spirit have been the driving force behind our success and our incredible team members who continuously strive to provide legendary experiences across every Crunch gym.”

Managing partner at Leonard Green & Partners, John Danhakl, says: “What Crunch has accomplished in the past five years is truly unprecedented. We are excited to support the brand’s continued evolution alongside a strong leadership team and franchise network. Crunch’s powerful business fundamentals and distinctive member experience make it an ideal fit for our portfolio.”

Also just announced, CR Fitness Holdings, the largest and fastest-growing franchisee of Crunch Fitness, has announced the acquisition of nine 24 Hour Fitness gyms in Miami and Orlando regions. This will give members access to more than 60 Crunch Fitness locations across the state of Florida and brings the estate to 84 sites across Texas, Florida, Georgia, North Carolina, and Tennessee.