Xponential Fitness, Inc. has completed the divestiture of its brand Stride Fitness to Stride Fitness Franchising, Inc., owned by Shaun Grove, the president of Rumble Boxing.
“We continuously evaluate our portfolio of brands to ensure profitable growth, optimize global customer experiences, and drive long-term value creation for our stakeholders,” said Anthony Geisler, CEO of Xponential Fitness, Inc. “We are pleased to transition the Stride brand to an operator with almost a decade of experience owning and operating franchises prior to joining Xponential. After considering the potential alternatives for Stride, we concluded that this transaction was the best option for Xponential and the Stride brand.”
With this announcement, Xponential started a search for Grove’s successor as president of Rumble Boxing. He agreed to remain in his role until then.
As of December 31, 2023, Stride Fitness locations represented less than 1 percent of Xponential’s total studios open. The divestiture of Stride Fitness is not expected to materially impact revenue in 2024. Xponential did not receive any consideration for the divestiture and will provide transition support to the new owner.
Image courtesy Stride Fitness
