Bluegrass Fitness, an affiliate of Manna Capital Partners, LLC, has acquired 18 Orangetheory Fitness studios in the Orlando and South Florida markets and signed a multi-year development agreement covering Central and South Florida.
This partnership agreement marks the first investment for Manna Partners in the fitness industry.
“This exciting new partnership with Bluegrass Fitness and Manna Partners will continue to drive same studio and new unit growth for Orangetheory Fitness in the Orlando and South Florida markets, helping fulfill our mission of bringing more life to members throughout the region,” said Dave Long, co-founder and CEO of Orangetheory Fitness. “Our new partner’s culture, operations focus and long-term outlook align perfectly with our model for success.”
Orangetheory Fitness reported in a release that “Manna Partners has created one of the most successful franchise businesses in the country and brings a long history of operational and development expertise.”
Based in Louisville, KY, Manna Partners’ portfolio includes nationally franchised restaurant brands with continued expansion into the fitness category with the Orangetheory Fitness acquisition.
“Manna Partners identified the fast-growing fitness sector as a prime area for expansion due to its substantial value proposition,” said Kevin Attkisson, co-founder of Manna Partners and Bluegrass Fitness. “With Orangetheory Fitness’ proven track record, national presence and focus on innovation, the brand stood out as an ideal fit for our company’s strategic vision. We look forward to aggressively expanding our Orangetheory business through new unit development as well as strategic acquisitions.”
Orangetheory Fitness recently completed a merger of equals with Self Esteem Brands.
Image courtesy Orangetheory Fitness
