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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.
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.
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