Planet Fitness Completes Be-Fit Acquisition for €102.5 Million
The Judgement Free Zone franchisor closed the Portugal deal as a sixth international market and a second European country.
Planet Fitness, Inc. (PLNT), the Judgement Free Zone franchisor and operator of fitness centers, recently completed the acquisition of Be-Fit, a leading Portuguese fitness platform with 25 clubs and approximately 80,000 members.
The aggregate purchase price is approximately €102.5 million (or approximately $114.8 million), comprising approximately €100 million (or approximately $112.0 million) paid in cash at closing and up to an additional €2.5 million (or approximately $2.8 million) in contingent cash consideration payable upon the achievement of specified performance targets.
The company said the acquisition advances its international growth strategy by establishing a scalable platform in an attractive and underpenetrated market and is expected to be accretive to earnings in 2027. Planet Fitness intends to operate the Be-Fit clubs following the acquisition while working with the existing management team to support integration and identify opportunities to expand its footprint in Portugal. Over time, it expects to pursue opportunities to refranchise the business.
Chief Executive Officer Colleen Keating said the company is energized by international expansion opportunities, “most recently our acquisition of Be-Fit in Portugal, which marks our entry into a sixth international market and our second country in Europe.” She said Be-Fit is a profitable collection of 25 clubs with an established national presence, and that the company sees great potential to drive efficiencies and future growth as it converts these units to the Planet Fitness brand and implements its best practices.
Planet Fitness is one of the largest franchisors and operators of fitness centers in the world by number of members and locations. As of September 30, 2026, it had approximately 21.5 million members and 2,962 clubs in all 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico, Australia and Spain. About 90% of those clubs are owned and operated by independent franchisees.
For the year ending December 31, 2026, the company is updating its expectation for system-wide new club openings to approximately 190 to 195 locations, which includes the acquisition of Be-Fit, from a prior range of 180 to 190.
Stronger demand supports expansion as pricing diverges
Media Earnings: Demand, Outlook Broadly Upbeat as Costs Diverge
Planet Fitness Raises EPS Outlook as Same-Club Growth Slows