 |
|
|
 |
30 Jun 2021
Beachbody merges with Myx Fitness and lists on the New York Stock Exchange
BY
Tom Walker
|
Beachbody currently has around 2.8 million total digital fitness subscribers
photo: Beachbody
The Beachbody Company Group has completed a three-way merger with connected fitness specialist Myx Fitness Holdings and Forest Road Acquisition, a special purpose acquisition company. Following the deal, the combined company – named The Beachbody Company – went public and began trading on the New York Stock Exchange (NYSE). Beachbody is the parent company of the Beachbody On Demand streaming platform (BOD) and the live digital streaming platform Openfit.
The combined business will add significant cash to the balance sheet, designed to position Beachbody to deliver growth in the digital fitness space, while scaling the Myx business and expand the merged business internationally.
Carl Daikeler, co-founder, chair and CEO of Beachbody, said: “This marks an important milestone in Beachbody’s mission to help more people achieve their goals and lead healthy, fulfilling lives.
“As a public company, we aim to accelerate our growth and introduce many more people to our proven fitness and nutrition solutions.
"With this transaction, we will deploy capital to grow our platform, add connected fitness hardware through the acquisition of Myx and continue to create the most exciting and innovative in-home fitness content.”
Daikeler will continue to lead the company and the Beachbody On Demand platform.
Jon Congdon, Beachbody’s co-founder and Openfit’s CEO, will continue to lead the Openfit digital platform, and Heberto Calves will remain in his role as president of Myx, reporting to Daikeler.
Forest Road’s Strategic Advisor Kevin Mayer, who previously served as CEO of TikTok and chief strategy officer for Disney, will join the company’s board of directors.
As of 31 March 2021, Beachbody had 2.8 million total digital fitness subscribers, a nationwide peer-support system of 400,000 influencers and coaches, plus a portfolio of branded nutrition products.
 |
|
|
|
|
|
|
|
|
|
Connect with
Leisure Management |
|
|
|
|
|
|
|
|
|
|
|
|
|
| News headlines |
|
|
|
 |
|
23 Apr 2024
Six Senses Kyoto opens its doors today, marking the eco-luxury hotel and spa operator’s entry into Japan and a new addition to its urban collection.
.... more>> |
|
|
|
 |
|
23 Apr 2024
With the launch of its 49th John Reed, RSG Group is looking for more opportunities for its high-end brand in the US and Europe. Cosmopolitan cities
.... more>> |
|
|
|
 |
|
23 Apr 2024
PureGym saw revenues rise by 15 per cent in 2023, with the company announcing plans to develop 200 new clubs in the next three to four years.
.... more>> |
|
|
|
 |
|
23 Apr 2024
The UAE’s first-ever Dior Spa has officially launched at The Lana, Dubai – the Dorchester Collection’s debut property in the Middle East. Bathed in
.... more>> |
|
|
|
 |
|
22 Apr 2024
Following three disrupted lockdown years, the European fitness market bounced back in 2023, according to Deloitte and EuropeActive’s hot off the press
.... more>> |
|
|
|
 |
|
19 Apr 2024
Norwegian health club operator, Treningshelse Holding, which owns the Aktiv365 and Family Sports Club fitness chains, has acquired fellow Norwegian operator, Aktiv Trening. The
.... more>> |
|
|
|
|
|
 |
|
| Company profile |
|
![]()
ukactive
ukactive is the UK’s leading not-for-profit membership body for the physical activity sector, bringing together more than 4,000 member organisations and partners in our shared ambition to get More People, More Active, More Often.
View full profile>> |
|
| Catalogue gallery |
|
|
| Featured Supplier |
|
 |
|
|
|
in this issue
• Virgin gets right to wipe out rent arrears
• Fitness industry mourns passing of Jan Spaticchia
• STA offers mindfulness resources
|
|
|
|
|
|
|
 |
| Latest jobs |
 |
Party Leader
Salary: Competitive
Location: Gainsborough
Company: Everyone Active
|
|
|
|
|
|
| Diary dates |
|
| Powered
by leisurediary.com |
 |
|
|
|
|
