Xponential Fitness Acquires Body Fit Training For $44M

Xponential Fitness Inc XPOF has acquired Body Fit Training (BFT), an Australia-based fitness franchisor, for a total of $44 million. Xponential will also acquire all of the intellectual property of BFT.
The company expects the acquisition to be immediately accretive on an EBITDA margin basis.
Xponential plans to enter into a Master Franchise Agreement with the BFT founders to provide support to all of its nearly 130 franchised studios across Australia, New Zealand, and Singapore, and also for over 150 BFT studios previously sold and contractually obligated to open across Asia Pacific region within the next 12 months.
Xponential will also be directly servicing BFT studios in the U.S. and Canada.
Xponential held $20.2 million in cash and equivalents as of June 30, 2021.
Price Action: XPOF shares are trading lower by 0.92% at $13.46 on the last check Wednesday.