Scottish digital fitness brand The Original Fit Factory purchased eight companies in a $137 million (£111.6m) acquisition as it diversifies into multiple digital fitness areas.
The companies purchased include Wolfson Brands, Smart Protein, Cool Events, TruFusion, Niyama, Virtual Run, Elf at Work, and Battle Ready 360. Terms were not disclosed.
The acquisitions are expected to boost projected 2022/23 revenue to over €100 million and give the company access to a community of over “10 million customers across 100 countries worldwide.”
The Original Fit Factory launched its core service, the TruConnect fitness community app, in 2016.
David Weir, founder and CEO, said, “It was the realization that the fitness and wellness community was strong but splintered which originally inspired me to start the business and, since then, the vision has always been to change that through the provision of synergistic products and services with ‘access for all’ at their core. The culmination of these acquisitions will be bolstered by the performance-driving engine from Wolfson Brands’ innovation lab. This will not only increase our sales performance through a global affiliate network but will enhance our capabilities to be able to manage our products with its own end-to-end eCommerce and logistics platform.”
Pierre van Niekerk, CFO, added: “These investments will not only allow us to ensure we have an expanse of wellbeing offerings for customers across the world but will also allow us to focus on driving profitability.”
