The Pure Group Secures New Investment Partners

HONG KONG, Dec. 19, 2017 /PRNewswire/ -- 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.

Milestones in 2016 & 2017:

New openings for Spring 2018: The year 2018 will see more new openings of Pure Yoga and Pure Fitness across Asia, with a strengthened foothold in Hong Kong and steady growth across other cities including Shanghai, Beijing and Singapore.

“As a formidable partnership, we will continue to focus on growing the Pure community with a clear vision to help people lead happier, healthier lives,” says Colin Grant -- Pure Group CEO & Co-founder

By 1 January 2018, there will be a total of 19 Pure Yoga locations worldwide, including 10 in Hong Kong, 3 in Singapore, and 2 in each of Shanghai, Taipei and New York.

By 1 January 2018, there will be a total of 9 Pure Fitness locations in Hong Kong and 3 in Singapore.

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About the Pure Group

Founded in 2002 and headquartered in Hong Kong, the Pure Group is Asia's leading premium lifestyle brand that includes Pure Yoga, MyPureYoga.com, Pure Fitness, Pure Apparel and nood food. Pure Group currently has locations in Hong Kong, Shanghai, Singapore, Taipei and New York. Pure Yoga has a wide variety of yoga and meditation classes and private yoga programmes, including workshops with renowned teachers from all over the world. Pure Fitness offers the industry's best from around the globe, encompassing strength and cardio training in addition to dynamic group classes led by passionate world-class instructors. Together with Pure Apparel's performance activewear and nood food's innovative organic health foods and cold-pressed juices, the Pure Group is an integrated community dedicated to helping people lead a happier, balanced 360˚ lifestyle. The Group currently has about 80,000 clients and more than 1,900 employees.

Pure Yoga             pure-yoga.com
MyPureYoga         mypureyoga.com
Pure Fitness         pure-fitness.com
Pure Apparel        be-pure.com
nood food             allnood.com

Pure Yoga locations:

Hong Kong   The Centrium - Asia Standard Tower - Pacific Place - Hutchison House - 
                       Pure South - The Pulse (hybrid yoga & fitness centre) - Soundwill Plaza -
                       World Trade Centre (coming soon) - Lincoln House - The Peninsula Office Tower -
                       Langham Place Office Tower - Grand Century Place (coming soon) -
                       Millennium City 5 (coming soon)
Shanghai       iapm mall - Plaza 66
Beijing           WF Central (coming soon)
Singapore     Asia Square Tower 2 - Ngee Ann City - 
                       Chevron House - Suntec City Mall (coming soon)
Taiwan           Pure Tower - Urban One
New York      Upper East Side - Upper West Side            

Pure Fitness locations:

Hong Kong    ifc mall - California Tower - Kinwick Centre - ICBC Tower - Fairmont House - 
                        Pure South - The Pulse (hybrid yoga & fitness centre) - Lee Theatre Plaza - 
                        PCCW Tower - Langham Place Office Tower
Shanghai      iapm mall (coming soon)
Singapore     Asia Square - Ocean Financial Centre - Ngee Ann City

About FountainVest Partners

Founded in 2007, FountainVest Partners is one of the largest private equity funds dedicated to China related investment, with US$4.7 billion of capital under management and offices in Shanghai, Beijing and Hong Kong. It partners with champions and emerging leaders with a proven track record in delivering high growth. Combining the firm's international standard of due diligence and investing best practices with local expertise of its investment and operations team, FountainVest takes a long-term and disciplined approach to create value for its domestic partners and international investors. fountainvest.com

About Ontario Teachers' Pension Plan (Ontario Teachers')

Ontario Teachers' is Canada's largest single-profession pension plan, with C$180.5 billion in net assets at June 30, 2017. It holds a diverse global portfolio of assets, 80% of which is managed in-house, and has earned an annualized rate of return of 10.1% since the plan's founding in 1990. Ontario Teachers' is an independent organization headquartered in Toronto. Its Asia-Pacific region office is located in Hong Kong and its Europe, Middle East & Africa region office is in London. The defined-benefit plan, which is fully funded, invests and administers the pensions of the province of Ontario's 318,000 active and retired teachers. otpp.com

Media Contact

Sinclair | Emma Williamson | emma@sinclaircomms.com

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