SGB Update Sports & Fitness
Puma Appoints Markus Neubrand as CFO
Markus Neubrand replaces current CFO Hubert Hinterseher, who has mutually agreed to step down on September 30, 2024. He will leave the company on December 31, 2024, after successfully transitioning his duties to Neubrand.
Orangetheory Fitness Opens New Studios in Greater Chicago, NYC Metro and Spain
Orangetheory Fitness opened three new studios in September—two in the U.S. (Crystal Lake, IL and Jersey City, NJ) and one in Valencia, Spain, reflecting its vision to “make a lasting impact on the health and wellness of communities worldwide.”
Omega Fitness and Rainier Partners Acquire MDS Fitness Gyms in Wisconsin
The acquisition of MDS’s Wisconsin assets strengthens Omega Fitness, the second largest Anytime Fitness platform in the U.S., in the state and remains consistent with the company’s focus on establishing geographic density in select markets.
Sqairz Appoints Three New Members to Board
Sqairz welcomed Keith Bank, Bobby Barad Elass to its Board of Directors as the company moves toward becoming a “multi-sport footwear conglomerate.”
PGA of America Elects President of Georgia Section
Joshua Deal, PGA general manager at Bobby Jones Golf Course in Atlanta, GA, was elected the 29th president of the PGA of America’s Georgia Section.
Report: Holiday E-Commerce to Grow 8.4 Percent; Cyber Monday May Lag Overall Gains
Cyber Week, the five-day period including Thanksgiving, Black Friday and Cyber Monday, is expected to drive $40.6 billion in online spend this year, up 7.0 percent y/y and representing 16.9 percent of the overall Holiday selling season.
Xponential’s Pure Barre Brand Expands into Mexico
Behind the Master Franchise Agreement for Mexico is a current Master Franchisee team at Boutique X Fitness Studios that is also developing StretchLab and Rumble in the country.
Pickleball Kingdom Franchise to Open in Lynnwood, WA in Early 2025
The new facility in Lynnwood, WA, led by brother and sister team John and Mara Hylton, will occupy a 37,000-square-foot space previously occupied by Bed Bath & Beyond and feature 12 indoor courts.
Tour Edge Appoints Vice President of Brand and Strategic Partners
Ladd comes to the role from Wilson Golf. She brings a strong background in golf knowledge with experience in national account and sales team management, merchandising and global marketing efforts garnered over a decade working for the company.
Life Time Completes Credit Revolver Increase and Extension
In connection with the refinancing, the company said it borrowed under the revolver and paid the remaining aggregate principal amount of ~$200 million outstanding under its term loan facility that had an interest rate of SOFR plus 4.00 percent.
Report: Premium Fitness Flourishing at Life Time and Orangetheory
Placer.ai said in a recent blog post on the growth trends at premium fitness brands like Life time and Orangetheory. The company said it dove into the data for the two premium fitness chains to better understand what’s driving their recent success.
Extraordinary Brands Expands Leadership Team Across Multiple Departments
The parent of the Pūrvelo Cycle, Eat the Frog Fitness, Row House, and Neighborhood Barre fitness brands has added to its leadership team as the company continues its expansion efforts.
Xponential Fitness Expands Rumble Boxing into Japan
In addition to the new Rumble Boxing franchise, Wellness X Asia acquired Master Franchise rights for Club Pilates in 2019 and has since launched 55 studios across Japan. Following this milestone, the company opened its first CycleBar studio in early 2023.
NBDA Elects Three New Board Members
Shirley Gonzalos of Pedal the Peaks, Chelsea Kulp of Shore Brake Cyclery and Paul Tobio of Ryder Bikes bring a wealth of experience and a passion for strengthening specialty bicycle retailers and the cycling industry.
Golfzon Leadbetter and the Golf Rooms to Launch Golf Academy in London, UK
Golfzon Leadbetter and The Golf Rooms plan to expand their partnership to additional locations in the UK and internationally.
