Irvine fitness franchisor Xponential Fitness Inc. (NYSE: XPOF) is continuing its buying spree, paying $44 million for Australia-based Body Fit Training.
Body Fit Training, started in 2017 by Cameron Falloon, focuses on 50-minute strength-training and cardio workouts. It counts nearly 130 locations open in Australia, New Zealand and Singapore. The company also has more than 150 studios in development and contracted to be open in the next 12 months.
The deal helps significantly expand Xponential’s overseas footprint, bringing its international studio count to more than 1,000 either open or under contract to open.
Body Fit Training is now the 10th brand to be added to Xponential’s portfolio, which includes Club Pilates, CycleBar, StretchLab, Row House, AKT, YogaSix, Pure Barre, Stride and Rumble.
Xponential shares are up about 10% since it went public in July.
The company was trading down 1% to $13.47 in midday trading Wednesday for a market cap of $639 million.