Planet Fitness franchisee Easy Mile Fitness has acquired nine Planet Fitness locations in Oregon from the Lubrano Franchise Group (OKTA Holdings), marking its entry into the West Coast fitness market.
The nine Planet Fitness locations are in Portland and Eugene, OR. With this acquisition, Easy Mile Fitness owns and operates 50 gyms across six regions, including Florida, Georgia, South Carolina, Puerto Rico, and Ontario, Canada. The nine clubs will reportedly benefit from plans for new construction, new local marketing strategies and company culture.
“We couldn’t be happier adding nine clubs to our existing portfolio. We’re excited to be breaking out of the Southeast as we begin to establish Easy Mile Fitness in the Pacific Northwest,” said Philip Amato, chief operating officer at Easy Mile Fitness. “This acquisition fits our internal goals and will help us execute against our vision of becoming a premier franchisee in the Planet Fitness system.”
“It has been an amazing journey introducing the Planet Fitness brand to Oregon. As a family-owned and operated franchisee since 2011, it was a difficult but meaningful decision. Looking forward, we believe in Easy Mile Fitness’ operational talents and the timing of this transaction. We are excited to pass the business to a dedicated organization committed to elevating this incredible business model to new heights,” said Octavio Lubrano, CEO and owner of OKTA Holdings, a Planet Fitness franchise.
“Selling our business to another family-owned operator was a natural transition for OKTA Holdings. Easy Mile Fitness will bring operational excellence into the Pacific Northwest to continue leading this market forward. We wish Easy Mile Fitness continued success,” said Kalpana Lubrano, COO/Owner for OKTA Holdings.
Easy Mile Fitness received legal counsel from Downs Rachlin Martin, tax advisory services from Baker Tilly US, LLP, insurance diligence performed by Lockton, and financing provided by Private Credit at Goldman Sachs Alternatives. The seller received financial advisory services from North Point Mergers and Acquisitions, Inc. and legal counsel from Honigman Law Firm.
Easy Mile Fitness will assume the clubs’ day-to-day operations, effective immediately.
Terms of the transaction were not disclosed.
Image courtesy Planet Fitness
