Less than two months after Tough Mudder's creditors in the USA forced it into filing for Chapter 11 bankruptcy protection, the extreme obstacle race operator has been acquired by rival brand Spartan Race.
With Spartan Race having also saved Tough Mudder’s UK-based operations earlier this month, it has, according to Bloomberg, agreed to pay US$700,000 for the company and take on as much as $10 million in liabilities.
Spartan will reportedly also honour all tickets that were previously purchased for Tough Mudder events.
In making the acquisition, Spartan has already hired many of Tough Mudder’s employees, including its former Chief Executive, Kyle McLaughlin.
Approving the sale, U.S. Bankruptcy Judge Christopher Sontchi stated “this is a particularly cool business, I have to say” adding that the sale “preserves jobs and an interesting product that provides a lot of satisfaction to its participants.”
In November, Spartan signed a letter of intent to buy Tough Mudder, but a dispute among Tough Mudder’s founders and its main lender killed the deal, according to court documents. In January, about a month after an attempt to mediate the dispute failed, Tough Mudder was forced into bankruptcy by some of its creditors.
In 2014, according to PitchBook data, Tough Mudder was valued as being worth US$200 million.
Boston, Massachusetts, USA -based Spartan, hosts 250 events a year in about 40 countries in which participants run, crawl through mud and climb over obstacles. Having received backing from Hearst Ventures, it was valued at US$50 million in 2016, according to PitchBook data.
As a result of the sale, Tough Mudder has now reopened registrations for its 2020 events in USA and Canada.
Run by a local licensee, Australasian Leisure Management understands that its Australian operations were not impacted by the bankruptcy.
About the author
Nigel Benton
Co-founder/Publisher, Australasian Leisure Management
Born in the English county of Dorset, Nigel Benton is the co-founder and Publisher of Australasian Leisure Management, Australia, New Zealand and the Asia-Pacific’s only magazine for professionals in all areas of the leisure industry and the www.ausleisure.com.au website - the go to news resource for industry leaders and professionals.
With a long-term commitment to communicating all that is best about the leisure industry (aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues) his career has been defined by an ability to develop and implement industry communications.
Starting his career working in heritage visitor attractions and then adventure travel in Africa and the Middle East, an interest in writing about his experiences led to his change of career into magazine journalism and publishing.
In addition to publishing, Nigel speaks on marketing communications at a range of industry events.
He was made a Life Member of the World Leisure and Recreation Association in 2006 and is a Fellow of the Royal Geographical Society (London).
In 2020, he launched the new Asian Leisure Business website.
As of October 2024, he was inducted into the Australian Fitness Awards Roll of Honour at the 2024 AUSactive National Awards.
Among a range of published works and features, his comments on a Blog (blogspot) from 2007 to 2011, when this website went live in its current form, may be interesting to reflect back on.
His philosophy on life is to be kind to all and to indulge those that you love.
His passions include family, Newcastle United and motorcycles (especially British ones) as well, until February 2025 when she left us, caring a little pug named Stella.
Click here to connect with him via LinkedIn.
Read more from this author
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