Berkshire Partners, a Boston-based investment firm, announced it has jointly entered into an agreement with technology entrepreneur and CrossFit gym Owner Eric Roza to acquire CrossFit.
As reported in SGB, Crossfit noted that the business is being sold to Roza, the Owner of CrossFit Sanitas in Boulder, CO. The sale follows controversial statements from Founder Greg Glassman after the death of George Floyd.
CrossFit has more than 14,000 affiliated gyms across 158 countries. CrossFit also operates the annual CrossFit Open competition, which culminates in crowning the Fittest on Earth at the CrossFit Games.
“We are thrilled to partner with Eric, his leadership team, and the entire CrossFit community,” said Marni Payne, managing director of Berkshire Partners. “The women and men who are part of this vibrant and passionate community are deeply committed to this sport, and we recognize the transformative role it has played in so many people’s lives. We believe in Eric’s vision for the future of CrossFit and are excited to be a part of the team during this next chapter.”
“CrossFit changes lives, and I am excited and inspired by the opportunity to build our global community and help tens of millions of people, while also creating extraordinary opportunities for CrossFit affiliates, athletes, and partners. Our success depends on making sure every person feels welcomed, respected, supported, and heard at CrossFit, and we are committed to doing the hard work needed to turn that vision into reality,” said incoming CrossFit CEO, Roza. “Berkshire and I share a vision for the future of CrossFit, and I look forward to drawing on their deep experience in growing and scaling world-class companies, while maintaining a sharp focus on what makes CrossFit so special in the first place.”
Terms of the transaction, which is subject to final government approvals, were not disclosed.
Berkshire Partners’ other investments have included Aritzia, Bare Escentuals, Carter’s, Kendra Scott, and Portillo’s.
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