Parties Sign Agreement to Purchase 100% of Company
Roza to Serve as CEO
BOSTON–(BUSINESS WIRE)–Berkshire Partners, a Boston-based investment firm, today announced it has jointly entered into an agreement with technology entrepreneur and CrossFit® gym owner Eric Roza to acquire CrossFit. In the 20 years since its founding, CrossFit has grown from a garage gym in Santa Cruz, California, to become a leading global health and fitness brand, improving the lives of millions of participants in 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, Eric 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.
About Berkshire Partners
Berkshire Partners, a Boston-based investment firm, has made more than 130 private equity investments since its founding over 30 years ago. Berkshire has developed industry experience in several areas including consumer, communications, business services & technology, industrials, and healthcare. Berkshire has a strong history of partnering with management teams to grow the companies in which it invests. Other investments in the consumer sector have included Aritzia, Bare Escentuals, Carter’s, Kendra Scott, and Portillo’s. For additional information, and to see a full list of the firm’s investments, visit www.berkshirepartners.com.
CrossFit is the world’s leading platform to improve health, happiness and performance. In the 20 years since its founding, CrossFit® has grown from a garage gym in Santa Cruz, California, into the world’s leading health and fitness brand. CrossFit is committed to creating a welcoming and inclusive environment for everyone, and millions of people have already experienced CrossFit’s transformational benefits through workouts in more than 14,000 affiliated gyms across 158 countries. CrossFit also operates the annual CrossFit Open, through which athletes at every level compete worldwide, culminating in the CrossFit Games where top athletes compete for the title of Fittest on Earth™. To learn more, visit www.CrossFit.com.
For Berkshire Partners
Brunswick Group, CROSSFIT@brunswickgroup.com, (917) 755-1454
Andrew Weinstein, firstname.lastname@example.org, (202) 667-4967