Press Release: The Pure Group Secures New Investment Partners

2017-12-19

-Primed for Continued Growth as Asia’s Leading Wellness Brand

(Hong Kong, 19 December 2017) The Pure Group is pleased to announce today a new investment partnership with FountainVest Partners (“FountainVest”) and Ontario Teachers’ Pension Plan (“Ontario Teachers’”) as it fuels its growth in Asia.

FountainVest is a Hong Kong-based private equity firm backed by global institutional investors and has a broad investment portfolio that includes China’s #1 running mobile app Codoon, China’s largest lifestyle service app Meituan/Dianping, the China Joint Venture of the largest global sports talent agency WME/IMG, and China’s dominant digital billboard network operator Focus Media. Ontario Teachers’ is Canada’s largest single-profession pension plan with offices in Toronto, Hong Kong and London and a diverse global portfolio of assets. It has significant experience in the fitness sector, including health club chain 24 Hour Fitness and GNC, a leading global specialty retailer of health and wellness products. The Pure Group, founded in 2002 and headquartered in Hong Kong, is Asia’s leading wellness brand that encompasses yoga studios (Pure Yoga), online yoga video platform (MyPureYoga.com), fitness centres (Pure Fitness), raw organic healthy eating (nood food) and performance activewear (Pure Apparel), and is dedicated to helping people lead happier and healthier lives.

A Unique Opportunity in Time
The Pure Group just celebrated its 15th anniversary in 2017. With a base of increasingly health-conscious Asian consumers and an expanding focus on health as the new wealth, it is an opportune time for the business to evolve to its next phase.

“Our new partners have a very successful investment track record and some fantastic complementary businesses in their portfolio,” said Colin Grant, CEO & Co-founder of the Pure Group. “They understand and share our vision as the leading premium wellness brand in Asia, and contribute a valuable mix of international outlook and vast knowledge of the global market.”

FountainVest is committed to supporting the Pure Group for long-term success. “We are convinced that the market for health and wellness in Asia will continue to grow in the years ahead especially in emerging markets such as China, and Pure is in a prime position to capitalise on this amazing opportunity. With our broad networks in the region, we will support Pure to unlock its full potential and continue developing its professional team of experts,” said Frank Tang, CEO and Managing Partner of FountainVest.

“Pure is an industry leader, and investing alongside our regional partner FountainVest is a clear sign of our long-term commitment to Hong Kong and the Asian market,” said Jo Taylor, Senior Managing Director International at Ontario Teachers’. “There are strong growth opportunities in Asia’s premium fitness market and we look forward to using our sector expertise to support Pure in taking the next step.”

Unwavering Commitment to 360˚ Healthy Lifestyle
“There will be no change in my role and those of the entire senior management team. We will continue our operations as usual to drive the business forward,” Mr. Grant added, “And I am excited about the flourishing relationship of our Pure team working together with our new partners in reaching new heights of the business for many years to come.”

Bruce Rockowitz says, “The success of Pure over the last 15 years has been incredible, and it’s
hugely rewarding to have partners of such high calibre on board. I’ll remain a shareholder and
look forward to the continued evolution of the company.”

Key highlights:

  • FountainVest Partners focuses on long-term oriented investments in industry leaders and works closely with management teams to create value in the areas of strategy, operations, finance, industry consolidation and governance.
  • Ontario Teachers’ Pension Plan is headquartered in Toronto with offices in London and Hong Kong, and has been investing strategically across a variety of asset classes around the world.
  • Pure Group will see no change for Colin Grant in his capacity as the company’s CEO. He and Bruce Rockowitz will remain as shareholders. The entire Senior Management team will remain with the Pure Group in driving its continued success.
  • Recent Growth of the Pure Group: In the last two years (2016 & 2017), the Pure Group has opened 7 new locations, including three yoga studios (one in each of Hong Kong, Shanghai and Singapore) and two fitness centres in each of Hong Kong and Singapore.
  • Here are the links to the releases on PR Newswire:
    English: http://en.prnasia.com/releases/apac/The_Pure_Group_Secures_New_Investment_Partners-197864.shtml
    Traditional Chinese: http://hk.prnasia.com/story/archive/2172360_XG72360_2
    Simplified Chinese: http://www.prnasia.com/story/archive/2172360_ZH72360_1