Young Rich Listers Kayla Itsines and Tobi Pearce have sold Sweat, the fitness empire they created from a humble e-book in 2015, to US-based iFIT Health & Fitness.
The sale comes nearly four months after the fitness duo, worth an estimated $209 million each, mandated Australia’s Gresham Partners and its offshore affiliate, middle-market investment bank Baird, to ready the business for market and talk to potential buyers on their behalf.
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Julie-anne Sprague co-edits our Rich Lists and covers entrepreneurs, wealth creation and investments. A senior journalist in our newsroom, Julie-anne has covered politics, property, agribusiness, retail and stockmarkets in both the UK and Australia. Connect with Julie-anne on Twitter. Email Julie-anne at jsprague@afr.com
