IRVINE, United States — Xponential Fitness has added a tenth brand to its growing portfolio with the acquisition of Body Fit Training (BFT) for $44 million.
Upon close of the transaction, Xponential is also expected to enter into a Master Franchise Agreement with the BFT founders within the next 12 months to provide support to all of its nearly 130 franchised studios across Australia, New Zealand and Singapore, as well as an additional 150+ BFT studios previously sold and contractually obligated to open across the Asia Pacific region. Xponential will also be directly servicing BFT studios in the United States and Canada.
“We are thrilled to announce the addition of our tenth brand with our acquisition of BFT,” said Anthony Geisler, Chief Executive Officer of Xponential Fitness.
“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 US and internationally and look forward to the brand’s continued success.”
Founded in 2017 in Melbourne, Australia, BFT offers community-based 50-minute functional, high-energy strength, cardio and conditioning-based classes across 13 workout programs.
Since its launch, the company has enjoyed a fast growth trajectory, even during a global pandemic. However, backed by Xponential it will be able to focus on existing and new markets in Asia Pacific and beyond while capitalising on Xponential’s global strength and reach.
And Cameron Falloon, Founder and Joint Chief Executive Officer of BFT believes that Xponential will be the perfect partner to expand the BFT experience across the globe.
“We are delighted to partner with one of the world’s leading fitness operators to continue our growth globally and provide additional brand strength for our franchisees and members,” he commented in a statement.
“We are particularly proud of the circa 35,000 strong member base we have created and the franchisees who continue to believe in the brand, and we look forward to taking BFT to the next level.”
Xponential, meanwhile, continues to move quickly to realise its mission of becoming a global powerhouse in boutique fitness.
Following this most recent transaction, along with boxing brand Rumble’s expansion in Australia, and the company’s global presence across its other brands, it now has over 1,000 international studios open or obligated to open in 10 countries outside of North America.
Following its IPO in July of this year, it predicts systemwide sales of between $690 million to $700 million and revenue in the range of $135.5 to $137 million as it continues to expand its market share in the large and growing boutique fitness industry.