Xponential Sells Stride Fitness; Shaun Grove To Depart
The boutique fitness franchisor has returned to a portfolio of ten brands, transitioning its treadmill-based interval training concept to a private owner
Xponential Fitness, having recently acquired Lindora metabolic health clinics in a push into the weight loss medication sector, has completed the divestiture of its treadmill-based interval training Stride Fitness brand to Stride Fitness Franchising, Inc., owned by Shaun Grove, president of Rumble Boxing.
In an email sent to franchise partners Thursday morning, Xponential president Sarah Luna confirmed that Stride Fitness is transitioning from the Xponential portfolio to a “private new owner” effective today.
Luna wrote that the decision to divest Stride from Xponential was “thoughtfully considered” as the boutique fitness and wellness franchisor “weighed the needs of the brand.”
She also gave assurances that Stride will be in the hands of an “incredibly qualified and capable leader” and closed the email writing that further updates would be shared with the Stride Fitness team and their franchisees directly. Xponential will provide “transition support” to the new owner.
The move sees Grove depart as president of Rumble Boxing. Grove served as president of Club Pilates before that and has been with Xponential since the brand’s founding in 2017.
The boutique franchisor has kicked off a search for Grove’s successor but confirms the Rumble Boxing president has agreed to remain in his role until a successor is found.
“We continuously evaluate our portfolio of brands to ensure profitable growth, optimize global customer experiences, and drive long-term value creation for our stakeholders,” said Anthony Geisler, founder and CEO of Xponential Fitness. “We are pleased to transition the Stride brand to an operator with almost a decade of experience owning and operating franchises prior to joining Xponential. After considering the potential alternatives for Stride, we concluded that this transaction was the best option for Xponential and the Stride brand.”
Xponential noted that as of Dec. 31, 2023, its Stride Fitness locations represented less than 1% of its total studios open and that the divestiture isn’t expected to materially impact revenue in 2024.
This is a developing story and may be updated with additional information.
