Australia’s fastest growing fitness franchise, Body Fit Training (BFT), enters into a partnership with US-based Xponential Fitness Inc (NYSE: XPOF).
Australia’s fastest growing fitness franchise, Body Fit Training (BFT), announced that it has entered into a partnership, selling its intellectual property to US-based Xponential Fitness Inc (NYSE: XPOF), a curator of leading fitness brands.
As part of the $60m cash upfront deal, plus additional payments based on growth, BFT will continue to operate as the Master Franchisor in Australia, New Zealand and Singapore. Xponential will now grow the brand across the USA and Canada.
Since being founded in 2017, BFT has sold over 300 franchises across Australia, New Zealand, Singapore and USA. The partnership will allow BFT to focus on existing and new markets in Asia Pacific and beyond, while capitalizing on Xponential’s global strength and reach.
BFT offers a community-based functional training program including 50 minute progressive cardio and strength-based classes across 13 workout programs designed to achieve the unique health goals of its members. BFT utilizes scientifically proven training techniques aimed to reduce fat and create lean muscle through a variety of training sessions overseen by highly accredited coaches in a dynamic group environment. In 2020, BFT received the APAC (Asia-Pacific) Franchise of the Year Award, recognizing the company’s continued strong growth during 2020 despite national lockdowns.
Cameron Falloon, Founder and Joint-CEO, and Richard Burnet, Joint-CEO said:
“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. 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.”
Anthony Geisler, Chief Executive Officer of Xponential Fitness, Inc., said:
“We are very pleased to announce the addition of our tenth brand through the partnership with BFT. Xponential has a demonstrated history of seamlessly integrating brands, and this acquisition expands our portfolio of boutique fitness offerings to include a functional strength and HIIT (high intensity interval training) based product that is complementary to our existing modalities. We see significant opportunity to expand BFT’s existing studio base both in the U.S. and internationally, as we leverage the Xponential Playbook to provide robust franchisee support, implement best practices and leverage synergies across our entire portfolio.”