Self-Esteem Brands, parent of Anytime Fitness, acquired Basecamp Fitness, a small California-based chain that focuses on scheduled class workouts in contrast to Anytime’s always-available, open-gym format.
Terms were not disclosed.
The purchase announced Wednesday is the second by Woodbury-based Self-Esteem after its 2013 acquisition of the Waxing the City chain of body-waxing studios.
Executives said they believe the Basecamp concept can grow to the size of Anytime, which now has more than 4,000 locations worldwide, chiefly owned and operated by franchisees.
“Our plan is to build additional corporate-owned studios next year to explore consumer preferences and perfect the Basecamp Fitness experience,” Chuck Runyon, chief executive of Self Esteem, said in a statement. “We hope to begin franchising Basecamp Fitness in the U.S. and internationally in 2020.”
Jedidiah Schmidt, who led a Self Esteem business unit that provides security systems for Anytime gyms, was named president of the Basecamp Fitness brand and will lead its development team.
In an interview Thursday, Schmidt said Basecamp appeals to a different consumer than Anytime. “We looked at that as an opportunity to target a space we feel we have an opportunity to expand,” Schmidt said.
He said Basecamp classes last 45 minutes and are led by one instructor who works with up to 40 people. Video screens also help guide users, who alternate between stationary bikes and floor exercises every minute for 35 minutes, followed by 10 minutes of core exercise.
“The value proposition is about an efficient workout, focusing on time, providing a plan for a consumer and motivation,” Schmidt said.
Basecamp was started by Nick Swinmurn, the founder of Zappos, the online shoe seller purchased by Amazon.com Inc. in 2009. The firm has five locations, three in the Los Angeles area and two in the San Francisco area.
Since forming Self Esteem as a holding company, Runyon and its other executives have explored a few dozen acquisition prospects, a spokesman said.
Basecamp’s group-based fitness experience has become increasingly popular in recent years. The U.S.-based CrossFit and Orangetheory chains and Australia’s F45 chain already have hundreds of such gyms, also mainly run by franchisees, around the world. All three chains have locations in the Twin Cities, with F45 the newest arrival.