Trive Capital and 808 Capital Partners announced their investment into Crunch Canada Holdings Inc., a Crunch Fitness franchisee headquartered in Cambridge, Ontario, in the Greater Toronto Area.
Crunch Canada is the primary Crunch Fitness franchisee in Canada, serving over 90,000 members across 19 clubs in the provinces of Ontario and Alberta. As Crunch’s designated master franchise for the country, Crunch Canada also has 13 franchised clubs, which together serve an additional 45,000 members across Ontario and Quebec.
“We’re excited to team up with Trive and 808, who share our vision for delivering an exceptional fitness offering for our members,” said Wesley Hodgson, the CEO of Crunch Canada. “Our new partnership and collaboration present a unique opportunity to enhance our capabilities, expand our leadership team, and execute on several near-term growth opportunities, including new club development and select acquisitions.”
Crunch Canada’s origins date back to 1976, when the Hodgson family opened its first fitness club in Kitchener, Ontario. Wes assumed executive leadership as CEO of the business in 2010 and thereafter opened a number of clubs, before acquiring the Crunch master franchise rights for Canada in 2017.
Jared Reyes, the managing director at Trive Capital, stated “Trive is impressed with the Crunch Canada team’s track record of opening and operating clubs, in addition to supporting its network of franchisees in Canada. We see significant opportunity in the Canadian market to expand the Company’s footprint and membership base.”
“The North American fitness sector continues to demonstrate strong fundamentals as consumers increasingly prioritize health and wellness, and new age groups enter the gym industry,” added Shravan Thadani, partner at Trive Capital. “Crunch remains well positioned to capture additional share within the broader industry given its attractive, high amenity offering at a compelling membership price.”
The transaction marks Trive’s second investment into the Crunch Fitness system. In June 2024, Trive invested in JF Fitness of North America, a Crunch Fitness franchisee headquartered in Richmond, Virginia, with 24 clubs serving the Mid-Atlantic and Southeastern US.
Chequan Lewis, the president of Crunch Fitness, said, “We’re thrilled to see Trive and 808’s continued investment in Crunch. We value their support of Crunch Canada as Wes and the team continue their club development plan and strategically deliver Crunch’s unique fitness experience to a much broader base of consumers in Canada.”
King & Spalding LLP and Borden Ladner Gervais LLP served as legal counsel to Trive. McCarter Grespan Beynon Weir PC served as legal counsel to Crunch Canada.
