Franchise Equity Partners acquires Planet Fitness's Australian franchisee Bravo Fit, targeting over 135 clubs
HAMPTON, N.H., July 20. The operating rights to over 135 Planet Fitness clubs across Australia passed to Franchise Equity Partners through its acquisition of Bravo Fit, the fitness chain's Australian franchisee, Planet Fitness, Inc. (NYSE: PLNT) disclosed. The deal advances Planet Fitness's stated goal of offering accessible and affordable fitness internationally, the company said.
Key takeaways
- Franchise Equity Partners acquired Bravo Fit, Planet Fitness's Australian franchisee, gaining the operating rights to over 135 Planet Fitness clubs across Australia.
- The deal transfers the Australian operating rights to new management while keeping the locations within the Planet Fitness brand network.
- Financial terms of the acquisition were not disclosed.
- Planet Fitness said the deal advances its stated goal of making fitness accessible and affordable internationally.
- Planet Fitness, Inc. trades on the New York Stock Exchange under the ticker PLNT.
HAMPTON, N.H., July 20. The operating rights to over 135 Planet Fitness clubs across Australia passed to Franchise Equity Partners through its acquisition of Bravo Fit, the fitness chain's Australian franchisee, Planet Fitness, Inc. (NYSE: PLNT) disclosed. The deal advances Planet Fitness's stated goal of offering accessible and affordable fitness internationally, the company said.
The transaction
Bravo Fit held the Planet Fitness franchise in Australia before Franchise Equity Partners stepped in as buyer. The acquisition transfers those operating rights to new management while keeping the locations within the Planet Fitness brand network. Financial terms were not disclosed.
The over-135-club target spans the Australian market. Hampton, N.H. and New York are both listed as points of origin for the announcement, reflecting the geography of the parties involved.
Planet Fitness's stated rationale
Planet Fitness said the Bravo Fit deal reflects its commitment to making fitness accessible and affordable internationally. The company made no additional international announcements alongside this one.
Planet Fitness trades on the New York Stock Exchange under the ticker PLNT. The acquisition places Franchise Equity Partners as operator of the Australian club network, with over 135 locations as the stated scope of the deal.