Irvine fitness franchisor Xponential Fitness Inc. (NYSE: XPOF) said it inked a master franchise agreement to bring at least 30 studios under the CycleBar, StretchLab and Rumble brands to New Zealand.
The agreement with Boutique Fitness Studios NZ Ltd. is for studio development over the next decade. Boutique Fitness Studios’ parent is currently a master franchisee in Australia for the three fitness brands.
Xponential counts more than 2,000 studios globally, across its portfolio of 10 workout brands.
The company’s shares were trading up 3.7% to $20.16 in midday trading Wednesday for a market cap of $481.8 million.