The Global Mid-Market Specialist
BOSTON, August 1, 2019 – Alantra, a leading global investment bank and asset management firm, is pleased to announce the sale of a group of New York-based franchise Pure Barre fitness studios to Palladin Consumer Retail Partners, LLC, a Boston-based private investment firm that focuses primarily on the retail and consumer products sectors. The transaction closed on June 21, 2019, and the value was undisclosed.
PB Metro—a newly-formed company run by a group of franchise owners with more than 18 years of combined experience—consists of 13 Pure Barre franchise studios and a management agreement for an additional studio in the metropolitan New York market. Together with Palladin, the company has agreed to open at least 15 new Pure Barre studios in the next three years, with locations across the New York Tri-State area. Pure Barre is the largest barre franchise in the U.S. and one of the leading boutique fitness concepts in North America.
Kaitlin Vandura, the Chairwoman of PB Metro, said in a company statement, “The Palladin team brings a wealth of experience growing consumer brands. Being able to work with them marks a critical next step in our growth strategy. Their expertise, support and leadership will provide creative insights and operational improvements that will be instrumental in becoming a major regional network.”
The Alantra transaction team included Scott Hadfield (Managing Director, New York) and Thomas Kulesa (Analyst, Boston). Mr. Hadfield commented, “We’re thrilled that we were able to assist the franchise owners in identifying the right partner to support the strategic goals of this newly formed company. We ran an extensive marketing process targeting consumer-focused private equity firms and selected Palladin not only for their knowledge of the boutique fitness space, but also for their willingness to commit the time and focus needed to get to a successful closing.”
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