Kayla Itsines and her ex-fiance Tobi Pearce sold their global health and fitness empire, Sweat, for $ 400 million.
According to The Courier Mail on Tuesday, the company was taken over by US software giant iFIT Health & Fitness Inc., just six years after the couple created the popular app that has been downloaded over 30 million times.
In 2020, the Sweat app generated an impressive revenue of $ 99.5 million, with the US market responsible for $ 53.7 million.
Despite the sale, Kayla, 30, and her ex will still run the brand from Adelaide, where the company will retain its headquarters.
Kayla reflected on Sweat’s humble beginnings after the announcement.
“I remember doing one-on-one sessions in my parents’ backyard and they morphed into larger group sessions at the local park here in Adelaide,” the fitness mogul wrote on Instagram.
Sold: Kayla Itsines and her ex-fiance Tobi Pearce have sold their global health and fitness empire, Sweat, for $ 400 million. Both in the photo
“These sessions kept growing and we slowly built a community, then in 2015 we launched the Sweat app.”
“I am so excited to begin the next chapter of Sweat’s journey. From today, Sweat will join the iFit family of brands. ‘
Meanwhile, Tobi was also excited about the start of Chapter Two of their business relationship.
“Kayla and I have had a very strong and long working relationship and this is the start of Chapter Two for both of us,” Tobi said of the sale.
“I look forward to a bigger and better Sweat – our head office will remain in Adelaide and we have a second office in Melbourne and that will remain there as well.”
Cash-in: According to The Courier Mail on Tuesday, the company was acquired by US giant iFIT Health & Fitness Inc., just six years after the couple created the popular app
Kayla confirmed her split from Tobi, who is the father of her two-year-old daughter, Arna Leia, in August of last year.
The former couple, who had been together for eight years, co-founded the Bikini Body Training Company after meeting in late 2012.
The popular brand has continued to bring together over 20 million fitness enthusiasts around the world through their workouts, apps and ebooks.
Boss: Despite the sale, Kayla and Tobi will still run the brand from Adelaide, where the company will retain its headquarters
They were jointly named fifth on the Australian Financial Review’s 2018 Rich Young List, making them the twenty-five richest self-taught in Australia.
That same year, Forbes estimated the then couple’s shared net worth at $ 696 million.
Their fitness programs help people transform their bodies and lose weight dramatically at the gym or at home.
Upon their separation, Kayla said in a statement that she and Tobi will remain friends and business partners.
Memories: Kayla reflected on Sweat’s humble beginnings on Instagram after the announcement. “I remember having one-on-one sessions in my parents’ garden and they morphed into larger group sessions in the local park here in Adelaide,” she wrote.
“After eight years together, Tobi and I made the difficult decision to separate as a couple. We will always be family and will remain good friends and devoted relatives to Arna, ”she said at the time.
“We grew up together in Adelaide, sharing a lifetime of experiences and special memories from moving into our first apartment and starting Sweat from our living room to become parents to our beautiful daughter.
“Our friendship remains strong as we raise Arna together and run Sweat as business partners. Thank you for your support and kindness during this time.
Excited: “Kayla and I have had a very strong and long working relationship and this is the start of Chapter Two for both of us,” Tobi said of the sale.
