BBRC Worldwide-backed Hot 8 Yoga is working with advisers to explore options, including a sale or minority stake investment, two sources familiar with the matter told The Deal.

Beverley Hills, Calif.-based Hot 8 Yoga generates Ebitda in the mid-single digits, the sources said.

The fitness chain is working with Piper Sandler Cos., one of the sources said.

Founded in 2010 by Vincent Nicoletta, Hot 8 Yoga is a hot yoga chain with 16 locations in California and New York. Hot 8 Yoga locations are all corporate-owned and not franchised.

Sydney-based BBRC acquired Hot 8 Yoga in December 2018. Piper Sandler served as sell-side adviser to Hot 8 Yoga at the time.

Fitness M&A has been on a slow uptick over the past couple of years following Covid-19 disruptions.

Much of the M&A activity in the market has been focused on high-volume, low price chains such as Planet Fitness Inc. (PLNT) franchisees.

While boutique fitness has been slower to recover, certain forms of exercise such as Pilates and yoga are gaining more traction amid a growing consumer focus on low-impact workouts.

Editor’s note: The original, full version of this article was published May 22, 2026, on The Deal’s premium subscription website. For access, log in to TheDeal.com or use the form below to request a demo.