iFIT Expands Presence In Digital Fitness With Sweat Acquisition

iFIT Health & Fitness, whose brands include NordicTrack, ProForm and Freemotion, has purchased women’s health and fitness platform Sweat, according to a Tuesday (July 13) announcement. Sweat was established in 2015 by trainer Kayla Itsines and CEO Tobi Pearce.

The acquisition price is approximately $300 million, The Wall Street Journal (WSJ) reported Monday (July 13), citing unnamed sources. iFIT is strengthening its content offerings before an expected initial public offering (IPO), the paper reported.

“The addition of Sweat will allow iFIT to further expand our membership base as well as add new fitness genres and modalities to our fast-growing subscription business, giving our company a tremendous competitive advantage,” iFIT CEO and Founder Scott Watterson said in the announcement.

Personal trainers fuel the Sweat platform, which provides more than 5,000 unique workouts throughout 26 exercise programs that include Pilates, barre and yoga in addition to strength and high-intensity interval training (HIIT).

Pearce and Itsines will keep heading up the Sweat business in their present positions while the firm will still be based in Adelaide, Australia.

Per the announcement, iFIT said that it will tap into its more than 40 years of “experience and innovation in the connected fitness space” to bolster the Sweat member experience, expand and diversify content offerings and develop brand presence in important international markets.

“iFIT enables us to create a breadth of engaging new content to fulfill the rapidly growing fitness needs of our members around the world,” Pearce said in the announcement.

The news comes as Echelon Fitness will reportedly be examining different strategic options that might value it at over $1 billion.

Separately, Peloton Corporate Wellness will bring Peloton content and connected fitness products to businesses and entities in the United Kingdom, United States, Germany, Canada and Australia in 2021.

“Over the years we’ve worked hard to help our members achieve healthier and happier lifestyles. Peloton Corporate Wellness is the natural extension for us to be able to scale that offering,” Peloton President William Lynch said in a June announcement.