Ardian sells its stake in fitnessboutique to company founders


Press release

Ardian sells its stake in fitnessboutique to company founders

  • 02 February 2016

  • Growth

  • France, Paris

6 minutes de lecture

Ardian, the independent private investment company, today announces the sale of its stake in FitnessBoutique, the specialist supplier of fitness equipment and sports nutrition, through a sponsorless owner buyout.

Founded in 1999 in Grenoble, France, FitnessBoutique was the first French company to establish an e-commerce website dedicated to the fitness and sports nutrition sector. 

In 2011, Ardian Growth invested in the company in order to support the management team through a new development stage. Since then, the company has tripled its number of stores to 72 worldwide. It has also developed an innovative sporting nutrition offer, available via a dedicated network and online. Today FitnessBoutique is the leading French independent company in this market thanks to a web-to-store model which maximizes multichannel sales. With a turnover of more than €40m, the company has doubled in size over the past five years while maintaining its profitability.    

Stéphane Viscuso, President of Fitnessboutique, said: “Our desire to accelerate our development required a partner with experience in the sector and who understood retail. We are very satisfied with the work of Ardian Growth, both a close partner and a shareholder with real international recognition.” 

Laurent Foata, Head of Ardian Growth, added: “The progress made by FitnessBoutique in becoming the uncontested leader of multichannel sales and specialized delivery in the sector demonstrates the audacious and innovative nature of the entrepreneurial team’s vision.”

Geoffroy de La Grandière, Senior Investment Manager at Ardian Growth, added: ”Our work with the management team has allowed FitnessBoutique to reach the next step in the development of its multichannel delivery plan and international presence, both in terms of product sourcing and brand recognition.” 


FitnessBoutique (Netquattro) is the French leader in specialist and professional sales of fitness machines and dietary supplements for sport. With more than 450 000 loyal customers, an internet presence in France, Spain, Italy, Belgium, Switzerland and Portugal, as well as 72 stores in France and internationally, the company achieved a turnover of more than €40m in 2015, representing 100% growth on 2010 levels.
40 people currently work at the company headquarters in Vairon (Isère), with 80 further employees in the group’s stores.

From 2016, FitnessBoutique plans to open a large number of new stores, as branches and franchises, both domestically and internationally.


Ardian, founded in 1996 and led by Dominique Senequier, is an independent private investment company with assets of US$55bn managed or advised in Europe, North America and Asia. The company, which is majority-owned by its employees, keeps entrepreneurship at its heart and delivers investment performance to its global investors while fuelling growth in economies across the world. Ardian’s investment process embodies three values: excellence, loyalty and entrepreneurship.

Ardian maintains a truly global network, with more than 410 employees working through twelve offices in Paris, London, Frankfurt, Milan, Madrid, Zurich, New York, San Francisco, Beijing, Singapore, Jersey, Luxembourg. The company offers its 470 investors a diversified choice of funds covering the full range of asset classes, including Direct Funds (Ardian Mid Cap Buyout, Ardian Infrastructure, Ardian Expansion, Ardian Growth, Ardian Co-Investment), Ardian Private Debt, Ardian Funds of Funds (primary, early secondary and secondary), Ardian Real Estate and customized mandate investment solutions with Ardian Mandates.



    • Laurent Foata, Geoffroy de La Grandière

    • Stéphane Viscuso
    • PWC avocats: Laurent Conio, Florent Fassier, Sara Humeau

Press contact

ARDIAN Headland


+44 207 3675 240