Barrecore, Europe’s largest and fastest growing boutique fitness business, announced an investment of growth capital by Octopus Investments, one of Europe’s largest venture capital teams. Barrecore operates nine studios across the UK offering health, fitness and wellbeing services. Barrecore’s group classes integrate high-intensity, low-impact fat-burning movements to create change in the body. The terms of the deal were not announced.
Barrecore also announces the appointment of Peter Woods as CEO. Peter has over 20 years of experience in the health and wellness industry, having lead large teams at companies like David Lloyd Leisure, Aspria, Holmes Place and Sk:n Clinics. Founder Niki Rein moves to the role of Creative Director and remains on the Board of Directors.
In making the announcement, Sunaina Sinha, Chairman of the Board of Directors, said “We are delighted about the investment from Octopus, which will enable us to expand rapidly throughout the UK and in Europe. Peter, as the new CEO, brings a wealth of experience in scaling fast-growing business in the fitness and leisure industry in Europe.”
Rebecca Hunt of Octopus said: “The growth in boutique fitness has come to Europe and Barrecore is uniquely positioned as the market leader to capitalize on this fast-growing trend.” Barrecore will use the proceeds of the deal to expand further in the UK and to open studios in Europe."