**Crunch Fitness Secures New Investment to Propel Growth**

Crunch Holdings, LLC, known as Crunch Fitness, has announced a significant investment from Leonard Green & Partners (LGP), a prominent private equity firm. This deal will see LGP acquire a majority stake in Crunch from TPG Growth and other minority shareholders.

Founded in 1989 in New York City, Crunch has evolved from a single gym into a leading global fitness brand. It has been recognized as the top fitness franchise for two consecutive years in the Entrepreneur Franchise 500® rankings. The brand is celebrated for its inclusive culture, innovative fitness programs, and affordable gym model, attracting a diverse membership base worldwide.

Jim Rowley, CEO of Crunch Fitness, expressed enthusiasm about the partnership with LGP, citing their strong track record in consumer brand investments. He believes that LGP's strategic insights will further enhance Crunch's growth while maintaining its core values.

Since TPG's investment in 2019, Crunch has seen remarkable growth, adding over 2.1 million members—a 176% increase—and expanding its gym locations by 275, more than doubling its footprint. Currently, Crunch serves over three million members across more than 500 gyms globally. The brand's innovative initiatives, including the new Crunch 3.0 gym design, have contributed to its strong market demand.

Rowley acknowledged TPG's support during the pandemic, which was crucial for Crunch's transformation and expansion. He also credited the franchisees and team members for their dedication and commitment to delivering exceptional experiences at Crunch gyms.

John Danhakl, Managing Partner at LGP, praised Crunch's achievements over the past five years and expressed excitement about supporting the brand's ongoing evolution. He highlighted Crunch's strong business fundamentals and unique member experience as key factors for LGP's investment.

Jonathan Coslet, Partner at TPG, commended Crunch's leadership and customer-centric culture, which have been instrumental in the company's success. He expressed confidence that Crunch will continue to thrive under LGP's partnership.

Jefferies LLC acted as the lead financial advisor for Crunch, with North Point M&A also providing advisory services. Legal counsel was provided by Kirkland & Ellis.

Crunch Fitness is dedicated to making exercise enjoyable by blending fitness with entertainment and promoting a "No Judgments" philosophy. With over three million members and gyms in 41 states and several countries, Crunch is rapidly expanding its global presence.

Leonard Green & Partners, founded in 1989 and based in Los Angeles, manages over $70 billion in assets. The firm focuses on investing in market-leading companies across various sectors, including consumer services and healthcare.

For more information about Crunch Fitness, visit www.crunch.com.