- Xponential Fitness Inc XPOF has signed a Master Franchise Agreement in New Zealand for three of its brands, CycleBar, StretchLab, and Rumble. The financial terms of the arrangement were not disclosed.
- The agreement paves the way for licensing at least 30 studios across the three brands to potential franchisees in New Zealand over the next 10 years.
- The New Zealand Master Franchisee, Boutique Fitness Studios NZ Ltd, is a wholly-owned subsidiary of Boutique Fitness Studios Pty Ltd, Xponential's Master Franchisee in Australia for CycleBar, StretchLab, and Rumble.
- Xponential has over 2,000 open studios worldwide, operating in 10 countries and across four continents.
- Price Action: XPOF shares are trading higher by 3.70% at $20.17 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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