CrossFit Avoids Corporate Buyout
Owner comes up with $16M
CrossFit dodged a corporate buy-out on Wednesday when founder Greg Glassman struck a deal to buy his estranged wife's share of the popular fitness brand. A divorce court in Arizona ruled earlier this month that Glassman had until November 15 to match Anthos Capital's offer for Lauren Glassman's half of CrossFit. At the last minute, growth equity firm Summit Partners loaned Greg Glassman slightly over $16 million to close the deal. "This was a harrowing experience that pulled critical staff from their normal duties for six months and cost millions of dollars in legal fees," Greg Glassman said in a post.
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