Hyrox Majority Stake Acquired
Private Equity Firm L Catterton Acquires Majority Stake in Hyrox for €600 Million
Anonymous
Key Points
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Wndr, the venture capital firm co-founded by Jeffrey Katzenberg and Sujay Jaswa, is joining L Catterton, Hyrox and the founders as a partner in the transaction.
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Hyrox has secured partnerships with major brands including Amazon, Puma and Red Bull, underscoring its appeal as a global marketing and consumer platform.
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Co-founder Moritz Fürste said the founders plan to remain involved for the long term, telling followers: “You will not get rid of us anytime soon.”
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Infront Sports & Media is a subsidiary of China’s Dalian Wanda Group; the company and Hyrox declined to comment on the reported transaction in one account.
Private equity firm L Catterton is buying a majority stake in Hyrox, the fast-growing indoor fitness-racing brand, in a deal valued at roughly €600 million ($697 million). Reuters reports that co-founders Christian Toetzke and Moritz Fürste are reinvesting and staying deeply involved, positioning this as a new chapter rather than a founder exit. The consortium also includes venture firm Wndr and other global partners.
Hyrox, founded in Hamburg in 2017, has expanded to more than 30 countries and expects over 2 million athletes to participate in the 2026-27 season. Insider Media notes the company has secured major partnerships with Amazon, Puma, and Red Bull. Infront Sports & Media, which became majority owner in 2022, is selling its stake in the transaction.
Founders Reinvest as They Hand Control to L Catterton
The deal marks a shift in ownership but not a founder departure. Moritz Fürste told followers: "You will not get rid of us anytime soon." Bloomberg Law reports both founders are reinvesting capital and plan to remain active long-term. This structure lets L Catterton gain control while keeping the founders' expertise and vision intact.
Infront Sports & Media, owned by China's Dalian Wanda Group, acquired its majority stake in 2022 and is now exiting. Wall Street Journal notes the L Catterton-led consortium is backed by LVMH, the fashion and luxury conglomerate. This ownership pivot reflects growing investor confidence in mass-participation fitness events.
Global Expansion Accelerates With Asian Growth
Hyrox's footprint now spans more than 30 countries, including major Asian markets like China, Hong Kong, Singapore, and Japan. The company expects participation to grow from current levels to over 2 million athletes by the 2026-27 season. Reuters reports Hong Kong will host the 2027 world championships—the first outside Europe or North America.
Major Brands See Hyrox as a Marketing Platform
Hyrox has attracted partnerships with household names including Amazon, Puma, and Red Bull. Insider Media highlights how these deals show the brand's appeal as a global marketing and consumer platform. The fitness-racing format—combining obstacle courses with timed racing—has carved a niche in the crowded mass-participation fitness sector.
The L Catterton investment capitalizes on this momentum. Bloomberg Law confirms the buying consortium includes not only L Catterton and the founders but also Wndr, the venture firm co-founded by Jeffrey Katzenberg and Sujay Jaswa. Other global partners, potentially including Asian investors, are also part of the deal structure.
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