2 minute read | September.09.2024
Italiano: Buddyfit e Gymondo uniscono le forze
Deutsch: Orrick berät italienische Buddyfit bei Zusammenschluss mit Gymondo
Buddyfit has joined forces with Gymondo, the leading online fitness and well-being platform across the DACH region, by joining 7NXT - the parent company of Gymondo and 7Mind.
Headquartered in Genoa, Buddyfit offers online fitness classes, mindfulness sessions, live workouts, and nutrition plans to a paying subscriber base of around100k. The business has grown quickly since its inception in 2019, generating consistently higher revenues year-on-year.
With this transaction, Buddyfit completes the first stage of its strategic growth plan after four years of strong expansion that have allowed the company to achieve leadership in Italy and Spain. By combining the expertise with that of Gymondo, Buddyfit places itself in a unique position to build a single major leading player in Europe.
The transaction positions Gymondo as a true European consolidator platform in the fitness and wellbeing market which is estimated to be worth over €3 billion across the core addressable markets of Germany, Italy and Spain by 2027. The acquisition bolsters the subscriber base of the 7NXT companies to more than 800,000 and extends the company’s market reach deeper into Europe, with the potential to unlock further opportunities in the European market including France and the Nordics.
The cross-office Orrick team that assisted Buddyfit was coordinated by Attilio Mazzilli and composed of Ginevra Rebecchini, Claudia Cirinà, Camilla Larcher and Eugenia Arrigoni for the corporate profiles under Italian law, of Carsten Bernauer, Christopher Sprado and Johannes Josef Rüberg for the corporate aspects under German law, of Flavio Notari for the tax issues under Italian law, of Nico Neukam and Stefan Schultes-Schnitzlein for tax issues under German law, assisted by Andrea Mezzetti and Caterina Chiari for the data protection profiles and by Mario Scofferi for labour law aspects.