Fitness Studio Barry's Bootcamp Explores Strategic Options Including a Sale [BNN Bloomberg (Canada)]
Ares Management Corporation Class A (ARES)
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Source: BNN Bloomberg
The company, which made a name for itself by combining intervals on a treadmill with strength training, is working with an adviser as it explores strategic options including a sale, people with knowledge of the matter said. It's a repeat of a pre-pandemic effort in which a sale may have valued the company at $700 million, Bloomberg News reported in 2019. The company's valuation expectations are now higher, one of the people said. Led by co-Chief Executive Officers Joey Gonzales and Jonathan “JJ” Gantt, Barry's has more than 50 studios in the US that are either open or in development, its website shows. It also operates studios around the globe, in countries including Australia, Singapore, the UK and Norway. A Barry's spokeswoman confirmed that the company is exploring strategic options and declined to comment further. Studio revenue climbed 27% last year from 2022, she said, declining to provide specifics. Since the pandemic, Barry's has added a class that combines lifting and
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