Paris, February 1,2011. AXA Private Equity, the leading European diversified private equity firm, announces that it is acquiring a 22% stake in the capital of FitnessBoutique, the on and off-line specialist in the sale of fitness equipment and food supplements.
AXA Private Equity will support, FitnessBoutique as it accelerates its organic growth over the next 18 months, with the aim of becoming a market leader in Europe in the rapidly-expanding Fitness industry.
Founded in 1999, the Grenoble-based business, FitnessBoutique.fr, was the first company to operate a website in France dedicated to fitness, training equipment and dietetic products. A leader in the French market, the company has expanded across Europe into Spain, Italy, Portugal, Belgium and Switzerland.
Thanks to the strength of its brand, FitnessBoutique has also successfully built up a network of stores throughout France. The Group currently has 19 shops located in major cities including Paris, Lille, Lyon, Grenoble, Bordeaux, Marseilles, Montpellier and Toulouse.
Laurent Foata, Director at AXA Private Equity, said:
“The fitness market is a sector currently experiencing rapid growth across Europe. We are delighted to be working with Stéphane and his talented entrepreneurial team at FitnessBoutique for this key stage in the company’s development.”
Stephane Viscuso, Director and Founder of FitnessBoutique, said:
”In AXA Private Equity we have found a partner which shares our own vision of our potential within this market. As with all its portfolio companies, the firm will contribute its experience and knowledge to help us achieve our goals. Strengthened by the success that the Internet model and FitnessBoutique stores generated in the French market, we now plan to accelerate our roll-out across Europe. ”