NEW YORK, April 15, 2025 /PRNewswire/ — Crunch Holdings, LLC (“Crunch Fitness”), a globally recognized powerhouse in the fitness industry, today announced a strategic investment from Leonard Green & Partners (“LGP”), a leading private equity investment firm. Under the terms of the agreement, LGP will acquire a majority interest in Crunch Fitness from TPG Growth, the middle market and growth equity platform of global alternative asset management firm TPG, and Crunch’s minority shareholders.
Founded in 1989 in New York City’s Greenwich Village, Crunch has grown from a single gym with a unique “No Judgments” philosophy into one of the fastest-growing and most respected fitness brands in the world. Ranking #1 in the fitness category for the second year in a row and #32 overall in the annual Entrepreneur Franchise 500® – the world’s first and most comprehensive franchise ranking – Crunch has built a loyal and diverse membership base worldwide with its inclusive culture, innovative group fitness programming, and high-value, low-price gym model.
“This is an exciting new chapter for Crunch,” said Jim Rowley, Chief Executive Officer of Crunch Fitness. “Leonard Green & Partners has a phenomenal track record of success and investing in consumer brands, and we’re confident their strategic insight and operational expertise will only continue to accelerate our growth while staying true to our core values.”
Since TPG invested in Crunch in 2019, the brand has experienced remarkable growth. During that period, Crunch added over 2.1 million members, a staggering 176% increase. The brand also significantly expanded its gym footprint, adding 275 locations, more than doubling its unit count. Today, Crunch boasts over three million members and operates more than 500 gyms worldwide. These achievements, in addition to Crunch’s new gym innovations, such as the recently launched Crunch 3.0 design and its commitment to making serious fitness fun for people of all fitness levels, continue to drive strong demand across domestic and international markets.