Self Esteem Brands, the Woodbury-based parent company of Anytime Fitness, announced its plans to merge with boutique fitness studio Orangetheory Fitness last week.

Orangetheory and Self Esteem plan to merge as equals in an all-stock transaction, forming a new company to include Self Esteem brands like Anytime Fitness, Waxing the City, Basecamp Fitness, Stronger U Nutrition and The Bar Method, according to a news release.

The new company will boast $3.5 billion in sales and 7,000 franchise locations across 50 countries and all seven continents, per the release.

“We are excited about what our combined companies will be able to accomplish together to capture an increasing market share, unlock future growth and pioneer a healthier tomorrow for consumers around the world,” said Dave Long, co-founder and CEO of Orangetheory, in the release.

Based in Boca Raton, Fla., Orangetheory is a heart rate-based group workout program with more than 1,500 locations.

Self Esteem Brands reported a 12.3 percent revenue increase for 2023 as compared to 2022. Waxing the City reported its franchise sales were more than 300 percent higher than 2022.

Self Esteem’s largest brand, 24-hour fitness club Anytime Fitness, reported a 6.7 percent year-over-year increase in coaching and personal training services for 2023. Anytime Fitness has more than five million members across 5,200 locations.

“From our simple beginnings in 2002 with the first Anytime Fitness club, we’ve enjoyed rapid growth worldwide thanks to both the power of small-business franchising and our mix of brands that meet ever-increasing demand for more holistic and personalized health and wellness services,” said Chuck Runyon, co-founder of Anytime Fitness and CEO of Self Esteem Brands, in the release.

The two companies, which share an investor in Atlanta-based Roark Capital, have begun the search for a CEO for the new company, said a spokesperson for Self Esteem Brands.

Runyon and Dave Mortensen, the co-founders of Anytime Fitness and current CEO and president of Self Esteem Brands, will move to the new company’s board of directors once the new CEO is hired. Long, Orangetheory Fitness’ CEO, also will shift to the new board of directors, said the spokesperson.

Timing of the merger is subject to regulatory approvals and customary closing conditions.

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