Pure Barre, the largest and most recognized barre fitness concept in the nation, today announced a significant growth capital investment by Catterton, the leading consumer-focused private equity firm.
Catterton’s investment will be used to support Pure Barre’s continued expansion across the U.S. and internationally to capitalize on rapidly growing consumer participation in specialty and barre-based fitness. WJ Partners, which invested in 2012, will remain an investor. Terms of the transaction were not disclosed.
With a proprietary method that combines ballet, pilates and resistance training in a low-impact, total-body workout, Pure Barre is the established leader in barre-based fitness. Pure Barre has over 300 barre fitness studios across 42 states and the District of Columbia, which is more than three times the number of locations of any other barre concept in the U.S. As a lifestyle brand, Pure Barre also has a growing retail presence that includes in-store and online sales of apparel, media content and other fitness accessories. Sloan Evans, Chief Executive Officer, and the current management team will continue to lead Pure Barre.
“We have a passionate group of franchise partners and customer loyalists who have helped Pure Barre become the leader in the barre category,” said Pure Barre CEO, Sloan Evans. “We have found an ideal partner in Catterton and look forward to working together to take Pure Barre to the next level. Their collaborative, operationally-focused approach and proven track record of partnering with leading specialty fitness companies to expand strategically will help us reach even more people in meeting their health and lifestyle goals.”
“We are thrilled to partner with Pure Barre, the clear leader in the barre fitness category,” said Marc Magliacano, Partner at Catterton. “Pure Barre is well-positioned at the forefront of the specialty fitness industry, which is experiencing rapid growth as consumers are increasingly gravitating towards specialized fitness programs that deliver an outsized experience. We look forward to partnering with Pure Barre’s outstanding team and devoted franchise partners to support the brand’s continued expansion, while remaining true to its core values as the company grows its dedicated and enthusiastic consumer base. Pure Barre is the perfect complement to Catterton’s fitness portfolio.”
Jaime Wall, Managing Director at WJ Partners, said, “We are proud of the remarkable progress of Pure Barre and its rapid growth from 100 studios to over 300 since our investment in 2012. At this critical inflection point, we welcome Catterton’s significant retail experience and history of successful brand stewardship to help Pure Barre capitalize on future opportunities. We are confident that Pure Barre will thrive with Catterton on board.”
Carrie Rezabek Dorr, founder of Pure Barre, commented, “Pure Barre has grown from a single barre studio into a leading lifestyle company that empowers and inspires entrepreneurs across the country – far exceeding our original goals. I am proud of how far Pure Barre has come, and Catterton’s investment is an important endorsement of our accomplishments. I am excited to be working together with Catterton and confident that, with their support, the next chapter for Pure Barre will certainly be a successful one.”
Catterton has significant experience investing in the high-growth, specialty fitness and athletic apparel space, including current investments in CorePower Yoga, the leading yoga studio operator; Flywheel Sports, one of the nation’s fastest growing indoor cycling brands; and Sweaty Betty, a leading women’s activewear brand.
Piper Jaffray & Co. and Stephens Inc. acted as financial advisors to Pure Barre.
May 1, 2015