Fitness studio franchisor Xponential Fitness Inc. (NYSE: XPOF) is set to acquire metabolic health firm Lindora in early 2024.
Shares of the Irvine-based franchisor, currently valued at $675 million, fell 1.4% to $14.23 during midday trading.
Lindora, headquartered in Irvine, brings Xponential’s brand umbrella to 11 companies and marks its first acquisition since 2021.
Xponential will take over 31 existing Lindora clinics, which provide health and wellness services such as weight management programs and IV hydration, citing “strong cashflow” from the locations and are anticipated to have an immediate impact on the franchisor’s average unit sales.
“Lindora complements our existing brands and will help us deliver on consumers’ increasing demand for a holistic approach to health,” Chief Executive Anthony Geisler said in a statement.
“This partnership will allow Lindora to become one of the first national brands in medical metabolic management,” Lindora CEO Colleen Lewis said.
Xponential counts 2,980 total studios in operation across its current 10 fitness brands, such as Rumble, AKT, and Club Pilates.
For more on Xponential, see the Dec. 11 print issue of the Business Journal.