Altra founders Golden Harper and Brian Beckstead didn’t set out simply to build a nifty new running shoe more than a decade ago, they actually wanted to change how people were running. 

After their initial start-up phase and two corporate buyouts, they’re still on that path. Owned and operated by VF Corporation since March 2018, the brand relocated to Denver in 2019 and finally moved into its new corporate offices and adjacent design center late last year. 

Altra Running is now among the top eight running shoe brands in the U.S. and growing globally, too. Its Lone Peak model is the No. 1 trail running shoe at REI and many other retailers across the country. It stuck to its roots of building shoes with a zero-drop or level platform, a concept that has resonated with retailers and consumers.

“But you know what the funny thing is? We’re not as big as we’d thought we’d be,” Harper said on Aug. 9 in Denver as the brand celebrated its 10th anniversary in business. “We’re big, but we can get bigger because there are a lot more runners we can help.”

Over the past 10 years, Altra has found success because it remained true to its unique design principles. Altra believes that a level or zero-drop platform is inherent to better running form and a reduction of overuse injuries. It quickly grew into one of the biggest brands in the trail running world and has since seen its road running shoes and lifestyle footwear make big strides, too.
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Here’s your roundup of new private company deals within the health and wellness sector over the past week.

• Adidas finally sold its Reebok division for $2.46 billion which is more than $1 billion less than Adidas paid when it acquired the U.S. footwear company in 2006. Authentic Brands Group was the winning bidder in the auction for Reebok. ABG has developed a knack for scooping up fallen angels and its brand portfolio includes Brooks Brothers, IZOD and Juicy Couture. 

• Investment in private sports tech companies overall continues at a near record pace. While unlikely to surpass the $1.4 billion invested in the sector in 2020 as millions of athletes switched to at-home workouts, the numbers so far in 2021 already surpass any other year on record. Check out the details in “It’s Still Early Innings, But Investors Are Looking For Home Runs Among Sports Tech Startups.” When investors see high-profile success stories like Tonal, Mirror, Whoop and Zwift, it begins a feeding frenzy to find the next hot private company that can reach the $1 billion “unicorn” status.

• Precision nutrition start-up Rootine just raised $3,000,000 in seed financing. Rootine aims to develop custom diet and nutrient plans tailored specifically to its users’ individual needs.