F45 Training Announces Strategic Acquisition of Vive Active
November 08 2021 - 9:01AM
Business Wire
- Adds a disruptive and innovative fitness brand in the Pilates
category to the F45 fitness portfolio - F45 has secured a
multi-unit franchise commitment to accelerate Vive’s growth -
Acquires at-home streaming and on-demand platform
F45 Training Holdings Inc. (“F45” or the “Company”) (NYSE:FXLV),
the fastest growing fitness franchisor in the world according to
Entrepreneur, announced that it has entered into a definitive
agreement to acquire Vive Active (“Vive”). Introduced in 2017 in
Sydney, Australia, Vive is a high-growth, profitable Australian
fitness company that offers reformer and mat Pilates workouts
through in-studio, at-home streaming and on-demand classes. Vive
was founded with the mission to disrupt the traditional Pilates
category by offering a new, innovative approach to Pilates that
aims to transform both bodies and minds.
The acquisition, which will be funded with cash on hand and is
expected to close during the fourth quarter of this year, will
result in F45’s ownership of Vive’s existing company-owned studios
and Vive’s innovative at-home platform, Vive Stream. Following the
acquisition, F45 intends to scale Vive by selectively adding new
company-owned studios in key markets, as well as by leveraging
F45’s franchising expertise to accelerate the expansion of Vive in
the United States and internationally. F45 has already received a
multi-unit commitment from an existing franchise development group
to expand the business in the United States. Vive’s management team
will continue to play a crucial role in this expansion strategy and
will provide F45 with significant expertise in operating
company-owned studios.
“We are thrilled to announce our first acquisition in purchasing
Vive Active, a disruptive, innovative fitness brand that is truly
complementary to the F45 portfolio,” said Adam J. Gilchrist,
President, CEO and Chairman of F45. “As the fastest growing global
fitness franchisor, it is our mission to make it easy for
entrepreneurs and investors to follow their passion to start and
run successful fitness studio businesses. Our investment in Vive,
which leverages our strong balance sheet, demonstrates our
commitment to identifying compelling opportunities to drive strong
continued growth in our footprint and offerings globally.”
“We couldn’t be more excited to be partnering with F45,” said
John Keats, co-Founder and CEO of Vive Active. “As Vive prepares
for its next phase of growth, I am confident that F45 is the ideal
partner as we seek to introduce Vive’s unique approach to Pilates
to new operators and fitness enthusiasts around the world.”
About F45
F45 offers consumers functional 45-minute workouts that are
effective, fun and community-driven. F45 utilizes proprietary
technologies: a fitness programming algorithm and a patented
technology-enabled delivery platform that leverages a rich content
database of over 3,900 unique functional training movements to
offer new workouts each day and provide a standardized experience
across the Company’s global footprint. For more information
www.f45training.com
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