04 ott 2024
Oakley Capital, a leading pan-European investor, has acquired Buddyfit, a prominent online fitness platform in Italy and Spain, through its subsidiary 7NXT. This acquisition integrates Buddyfit with Gymondo, a German online fitness leader, expanding its reach into the Italian and Spanish markets.
Buddyfit, founded in 2020, has rapidly grown with over 100, 000 subscribers, leveraging strategic marketing and partnerships.
The merger aims to establish a dominant European presence in the online fitness and wellness sector, targeting over a million subscribers by next year.
Oakley Capital, a prominent pan-European investment firm, has announced the acquisition of Buddyfit, a leading online fitness platform in Italy and Spain.
This strategic move is executed through Oakley Capital's subsidiary, 7NXT, which already manages Gymondo and 7Mind, top online fitness platforms in German-speaking countries.
The acquisition allows Gymondo to enter the Italian and Spanish markets, furthering its expansion strategy initiated with the acquisition of 7Mind in December, which marked its entry into the mental health sector.
Buddyfit, headquartered in Genoa, offers online fitness classes, training programs, and nutritional plans to over 100, 000 paying subscribers.
Founded in 2020 by Giovanni Ciferri, Stefano Manzoni, and Stefano Cortese, Buddyfit has experienced significant growth, supported by key industry players and financial backing from Azimut Digitech, Cdp Venture Capital, Rcs MediaGroup, and Cairo Communication.
The company's success is attributed to its innovative marketing strategy, featuring high-profile ambassadors like Zlatan Ibrahimovic and Diletta Leotta, and building a strong community with nearly 1 million social media followers.
Gymondo, which began its journey a decade ago in Germany, has established a strong leadership position in the German-speaking region, including Switzerland and Austria.
Since 2020, Oakley Capital has invested in Gymondo, collaborating with founder and CEO Markan Karajica to accelerate growth in the online fitness and wellness market through organic expansion and acquisitions.
In 2023, Gymondo acquired 7Mind, a leading German mental wellness platform, broadening its customer base to include both B2C and B2B clients.
The integration of Buddyfit, which will retain its operational headquarters in Genoa, strengthens the group's position as a leading European platform in the online fitness and wellness market, particularly in Germany, Italy, and Spain.
This acquisition enhances Gymondo's subscriber base, with the goal of surpassing one million subscribers next year.