WeSports completes full acquisition of Kraftmark
WeSports, through its subsidiary Vartex - a leading Nordic provider of fitness equipment and services - announced today that it has completed the full acquisition of Kraftmark. In October 2022 WeSports acquired the Kraftmark brand and trademarks. When the Kraftmark Swedish national sales company filed for bankruptcy earlier this month WeSports acquired all remaining assets and distribution agreements. Kraftmark will become part of WeSports’ Fitness segment, significantly enhancing the Group’s customer offering of market-leading fitness brands and concepts.
With the acquisition, Kraftmark will now be part of a financially strong fitness organization, enabling rapid growth, strengthened focus and market presence within its core focus areas. WeSports will further strengthen its market-leading position in fitness, with clear synergies between Kraftmark and Vartex’s leading brand, Master Fitness. Some synergies have already been completed, including a new warehouse setup and a complete new e-commerce platform for Kraftmark. A further geographical expansion to all Nordic countries is expected shortly.
All sales representatives of Kraftmark have joined the newly merged Kraftmark-Vartex sales organization, ensuring no interruptions of deliveries and service to old and new customers. WeSports are also initiating a strong investment to improve the customer offering and service towards individual boutique gyms and gym chains.
"We are delighted to be able to complete the acquisition of Kraftmark, in such a co-ordinated and swift manner that has been the case and we look forward to bringing Kraftmarks´ market-leading fitness brands to our customers" said Martin Appelfeldt, CEO of WeSports. "With this acquisition, WeSports is further strengthening its position as a leader in the fitness industry."
The acquisition of Kraftmark provides WeSports with a unique opportunity to expand its product portfolio, and the company is committed to investing in the growth of Kraftmark's successful business segments. The merger with Vartex will allow for a market leading comprehensive range of fitness equipment and services to be offered to both gym owners, professional as well as private customers.
"We are excited to join forces with WeSports and become part of their innovative and customer-focused company," said Per Sundström, former CEO of Kraftmark´s Swedish Sales company. "The merger with Vartex will enable us to expand our reach and improve our customer offerings, and we look forward to the opportunities this partnership will bring."
With the acquisition of Kraftmark, WeSports is poised to make significant strides in the fitness industry. The company is committed to providing its customers with high-quality equipment and services, and the acquisition of Kraftmark will enable it to do so in an even more comprehensive manner.
Contacts
Martin Appelfeldt
CEO WeSports Scandinavia AB
+46 702-898815
martin.appelfeldt@wesportsgroup.com
Thomas Bengtsson
CEO Vartex AB
+46 705-081011
thomas.bengtsson@vartex.se
Stefan Ljung
Commercial Fitness Sales Manager Vartex AB
+46 725-160130
Per Sundström
former CEO Kraftmark AB
+46 736-007008