AUSTIN, Texas--(BUSINESS WIRE)--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.”
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