Instagram fitness tycoon Kayla Itsines and her ex fiance Tobi Pearce are taking back control of their multimillion-dollar fitness and health business, Sweat App.
The Adelaide pair have joined forces again to acquire the popular brand back from iFIT two years after selling the business to the US-based company.
The surprise takeover was finalised for an undisclosed sum, with Ms Itsines expect to remain on as co-founder and head trainer.
Ms Itsines said in a statement on Tuesday that returning as owners to the business she and Mr Pearce built from scratch was a “full circle” moment.
She explained the decision to acquire the brand came after iFIT shifted its focus on its core business of fitness hardware products.
“I am thrilled to be back as an owner of Sweat, a platform that has meant so much to me and to the millions of women it serves,” Ms Itsines said.
“The decision to regain ownership is about ensuring the best future for Sweat.
“We have always been a platform built for women, by women, providing a secure and encouraging space for them to share their transformation journeys.
“Our commitment to this community remains unwavering.”
The brand was sold to iFit for almost $200m in 2021, before the company reported it first financial loss in 2022 after recording an $85m loss.
Mr Pearce will act as a strategist within the company to ensure long-term growth strategy, while Sweat chief executive Adam Koch will remain in his role as part of the ownership transition.
“Sweat’s CEO Adam Koch has been the main driver of success throughout these recent transitions and will continue to be in the future,” Mr Pearce said in a statement.
Ms Itsines said the next chapter would provide women with limitless possibilities on building their health and fitness.
“Anything that helps women feel stronger and more confident on their health journey is right in our wheelhouse,” she said.
The former couple launched the Bikini Body Guide fitness program in 2015 before it evolved into the internationally beloved fitness brand Sweat.
Their acquisition of Sweat comes a month after the Supreme Court dismissed an injunction to block rising Instagram fitness star and former Sweat contractor Cass Olholm from launching a rival app.
The legal stoush was launched after The Bikini Body Training Company, founded by Ms Itsines, argued Ms Olholm breached restraint of trade by preparing her new business ahead of the 12-month clause.
Ms Itsines and Mr Pearce announced the end to their engagement in 2020, but remained business partners before parting ways after iFIT bought out the company.
Ms Itsines is due to marry her new fiance, Jae Woodroffe next month, while Mr Pearce announced her engagement to three-time World Beauty Fitness and Fashion bikini champion Rachel Dillon in September.
Sweat App, which is available in 145 countries and eight languages, offers access to more than 50 unique programs and more than 13,000 workouts.