Xponential Fitness Inc. announced that it had acquired Body Fit Training (BFT), an Australia-based fitness franchisor for $44 million in cash on the balance sheet and debt from its existing senior secured loan facility.
The acquisition is expected to be immediately accretive on an EBITDA margin basis.
In connection with the transaction, Xponential acquired all of BFT’s intellectual property. At closing, Xponential is expected to enter into a Master Franchise Agreement with BFT founders to support its nearly 130 franchised studios across Australia, New Zealand and Singapore, as well as over 150 BFT studios previously sold and contractually obligated to open across the Asia Pacific region within the next 12 months.
Xponential will also be directly servicing BFT studios in the United States and Canada.
Founded in 2017 in Melbourne, Australia, BFT offers community-based 50-minute functional, trength, cardio and conditioning-based classes across 13 workout programs designed around the health goals of its members.
BFT becomes Xponential Fitness’ tenth brand.
“We are thrilled to announce the addition of our tenth brand with our acquisition of BFT,” said Anthony Geisler, CEO, Xponential Fitness, Inc. “Xponential has a proven history of seamlessly integrating brands into our platform. BFT expands our portfolio of boutique fitness offerings in a way that is highly complementary to our existing modalities. As with each of our current brands, we will leverage the Xponential Playbook to provide BFT robust franchisee support and access to best practices to generate synergies across our entire portfolio. We see significant opportunities to expand BFT’s existing studio base both in the U.S. and internationally and look forward to the brand’s continued success.”
“I, together with our Joint-CEO Richard Burnet, am excited for BFT to join the Xponential Fitness portfolio of leading brands,” said Founder and joint CEO, BFT, Cameron Falloon. “Xponential is a premier fitness franchisor and the perfect partner to expand the BFT experience across the globe. We are confident that our members and franchisees will benefit from Xponential’s industry expertise and best-in-class platform.”
Following this transaction, with Rumble’s brand expansion in Australia, and the company’s global presence across its other brands, Xponential Fitness now has over 1,000 international studios open or obligated to open in ten countries outside of North America.
Xponential Fitness’ portfolio of brands includes Club Pilates, CycleBar, StretchLab, Row House, AKT, YogaSix, Pure Barre, Stride, Rumble, and Body Fit Training.