Easy Mile Is Latest Planet Fitness Franchisee To Make Acquisition Move
The deal makes Easy Mile Fitness the largest Planet Fitness operator in Oregon and expands its reach to 70 locations
Easy Mile Fitness, a privately owned Planet Fitness franchisee, has just struck a deal with the Bravo Fit Franchise Group to acquire 17 locations. Fifteen gyms are located in Oregon, throughout Portland, Bend, Medford and Yakima, and two in Anchorage, Alaska.
The new additions make the Boston-based company the largest Planet Fitness operator in Oregon, while the addition of Alaska marks the fifth state they’re in. The franchisee now owns and operates 70 locations across seven areas including Alaska, Florida, Georgia, Oregon, South Carolina, Puerto Rico and Ontario, Canada.
“We are thrilled to grow our footprint in the Pacific Northwest with this acquisition,” said Philip Amato, chief operating officer of Easy Mile Fitness. “This acquisition fits with our internal goals and will help us execute our vision of continuing to be a top franchise partner and bring a high-value experience to more communities.”
The deal quickly follows another major acquisition by fellow Planet Fitness franchisee, Ohana Growth Partners. The Maryland-based group recently locked down 10 clubs in Michigan from JP Fitness and picked up a location in Rice Lake, Wisconsin, that is expected to open by the end of the year.
The deal also sees Bravo Fit, the master franchisee for Planet Fitness in Australia, exit the U.S. market to shift its focus entirely on its southern hemisphere market.
“We could not be prouder of our Bravo Fit team for creating a culture dedicated to delivering confidence and competence. Today, we put our Oregon and Alaska operations in the good hands of Easy Mile Fitness, so we can continue our mission with our rapidly growing Planet Fitness reach throughout Australia,” Bravo Fit co-CEO Dan Afrasiabi said of the deal.
To make the deal happen, Easy Mile Fitness had financial support from Fifth Third Bank, which has led over 40 financing transactions for Planet Fitness franchisees over the past decade.
The key deals from both Easy Mile Fitness and Ohana Growth Partners come amid franchisees’ race to expand their Planet Fitness operations. Earlier this month, Excel Fitness, backed by Olympus Partners, put out a call for acquisitions across nine states, eyeing locations in Texas, Oklahoma, Arkansas, Missouri, North Carolina, Virginia, Tennessee, Georgia and Utah.