In order to create a new health and wellness subscription service for the mass market, The Beachbody Company Group has decided to merge with connected fitness company Myx Fitness Holdings, via a collaboration with the special-purpose acquisition company (SPAC) Forest Road Acquisition Corp.
With this acquisition, the Santa Monica, California Headquartered Beachbody Company will become the parent of Myx, Openfit and Beachbody on Demand (BOD) upon the closing of the merger.
Regards to the acquisition, Beachbody CEO and Co-founder Carl Daikeler said, “This marks an important milestone in Beachbody’s mission to help more people achieve their goals and lead healthy, fulfilling lives. As a public company, we aim to accelerate our growth and introduce many more people to our proven fitness and nutrition solutions. With this transaction, we will deploy capital to grow our platform, add connected fitness hardware through the acquisition of Myx and continue to create the most exciting and innovative in-home fitness content.”
However, Daikeler will continue to head up the company and its on-demand platform. Beachbody’s Co-founder Jon Congdon, who also is the CEO of Openfit, and will continue heading up that platform. According to the official release, Heberto Calves will remain Myx president and will report to Daikeler.
Forest Road Strategic Advisor Kevin Mayer will join the board of directors, he was previously serving as the CEO of TikTok and Disney’s chief strategy officer. In a statement, he said, “Beachbody is a company that has been on the leading edge of content creation since its inception 22 years ago, and has built a complete solution that brings together fitness and nutrition subscriptions and delivers results for customers as well as value for the company. With a subscription base that is the largest in connected fitness, supported by a founder-led management team that has proven its ability to innovate, I could not be more thrilled to join the board and help guide this company in its next chapter of growth.”
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The information contained in this article is for educational and informational purposes only and is not intended as a health advice. We would ask you to consult a qualified professional or medical expert to gain additional knowledge before you choose to consume any product or perform any exercise.
