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Irvine-based Xponential Fitness Inc.’s (NYSE: XPOF) boxing concept Rumble said it inked a master franchise agreement in Australia.
The agreement is with Box X Operations Pty Ltd. Box is part of Boutique Fitness Studios Pty Ltd., an Australian master franchise partner for CycleBar and StretchLab, two other fitness brands owned by Xponential.
The Rumble agreement is good for a minimum of 100 studios in the next five years. Four locations in Sydney and Newcastle are said to be in development.
Xponential, has a portfolio of nine fitness brands it franchises, with 1,839 studios open.
The fitness franchisor acquired Rumble in March and went public in July.
Xponential closed up 2.1% to $12.40 on Tuesday with a market cap of $588.3 million.
