GYMSHARK FOUNDER IN TALKS TO BUY BACK STAKE FROM PRIVATE EQUITY

Ben Francis, founder of Gymshark, is negotiating to repurchase a portion of the stake he sold to private equity firm General Atlantic in 2020, according to reports. Francis is exploring the potential valuation and size of the stake to acquire, though he is not seeking to buy back the entire 21% holding. He is also in discussions with banks regarding financing for the transaction. General Atlantic retains a representative on Gymshark's board.

Francis established Gymshark in 2012 by sewing gym clothes in his parents' garage and has since built it into a sportswear company valued at £1.25bn. The 2020 sale of the 21% stake to General Atlantic left Francis retaining 70% ownership and contributed to an estimated personal fortune of £726m, according to the latest Sunday Times Rich List. Gymshark's revenues rose 6.5% to £647m in the year to July 2025, though pre-tax profits fell from £11.8m to £6.9m. The company has expanded its direct-to-consumer retail presence in recent years, opening stores including an outlet on Regent Street in London.

The potential buyback occurs as Gymshark navigates intensified competition and changing consumer spending patterns. The company restructured last year, cutting hundreds of roles to manage near-term challenges and expand operations in continental Europe. In its annual filing, Gymshark attributed improved sales growth to reduced discounting and enhanced marketing efforts.