A couple of years ago, a whole bunch of different fitness apps came out, all with pretty much the same idea. With just one membership, you can visit a full range of gyms or training facilities. In addition to the American giant Classpass, there are Swedish variants Bruce and Swiftr.
The latter managed to get both Christina Steinbeck Bonnier is on the owners list. The only problem was that the business never took off, and at the end of 2021 the company was bought out Frederic Polons Nutribe, which was then backed by the recently listed First Venture. But that still didn’t get the business off the ground. Last year, Swiftr had a turnover of 4.2 million and posted a loss of around 2 million kroner.
And now competitor Bruce is buying Swiftr.
“The transaction improves our shared conditions to create value for members and partners. “Bruce has an established presence in Stockholm, Oslo, Gothenburg and Copenhagen,” Bruce CEO wrote. Peter Anderson In an email to Breakit.
“As Swiftr has a significant portion of its operations in Malmö, the acquisition of Bruce accelerates expansion and value creation in the Øresund region, where approximately 20,000 people commute between Sweden and Denmark.”
The deal will not mean transferring users to Bruce, but the two brands will continue to exist in parallel.
“Swiftr members can train as usual at their favorite studios. We are continually evaluating options for a future, shared membership structure.”
He doesn’t want to reveal how much they paid for Swiftr.
In 2021, Bruce had a turnover of SEK 41.7 million and incurred a loss of SEK 14.9 million.
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