PLNT exits minority position in Bravo Fit, which runs 32 gyms in Australia, without disclosing financial terms of the deal.
Planet Fitness has sold its minority stake in Bravo Fit, its Australian franchisee, to private investor Franchise Equity Partners. The transaction details remain undisclosed, including the sale price or valuation metrics.
Bravo Fit currently operates 32 Planet Fitness locations across Australia and holds exclusive development rights for the region. The company had been a key growth driver for PLNT’s international expansion strategy.
No immediate market reaction was reported following the announcement, which was released after U.S. trading hours.