7NXT Acquires Italian Fitness Company Buddyfit
7NXT Expands Market Presence with Acquisition of Buddyfit
The acquisition of Buddyfit by 7NXT, the German fitness startup known for Gymondo and 7Mind, signifies a key development in the company's strategy to create a comprehensive wellness platform. This move follows 7NXT's acquisition of the mindfulness app 7Mind in 2023, demonstrating its ambition to merge physical fitness with mental well-being. By incorporating Buddyfit, an Italian online fitness company, 7NXT is expanding its reach in the European fitness market. Gymondo's offerings will now include more live workouts and nutrition plans, catering to its growing base of over 800,000 subscribers.
This acquisition is seen as part of a broader trend in the digital fitness industry, where companies aim to offer integrated fitness and mental health solutions. With backing from Oakley Capital, 7NXT is positioning Gymondo as a holistic wellness platform that can serve both individual consumers and corporate clients. The industry experts anticipate continued consolidation in the sector as the demand for comprehensive wellness services rises, driven by the increasing focus on both physical and mental health. By leveraging influencer marketing and technology, 7NXT is tapping into this growing market .
Key Takeaways
- Acquisition of Buddyfit bolsters 7NXT's subscriber base to over 800,000.
- 7NXT's market presence now includes Italy, Spain, France, and the Nordics.
- The overarching goal is for 7NXT to become a prominent European fitness and well-being platform.
Analysis
The acquisition of Buddyfit catapults 7NXT's expansion in Europe, establishing a substantial foothold in Italy and Spain. This strategic move positions 7NXT to emerge as a major player in the European fitness and well-being landscape, supported by Oakley Capital.
Did You Know?
- 7NXT: A German fitness startup, renowned for Gymondo and 7Mind platforms, shaping the European fitness and well-being market.
- Buddyfit: An Italian online fitness company, acquired to fortify 7NXT's market presence in Europe.
- Oakley Capital: A private equity firm, parent company of 7NXT, driving strategic growth initiatives for Gymondo's prominence in Europe.