One of the largest Planet Fitness franchise groups, National Fitness Partners (NFP), Camp Hill, Pennsylvania, has acquired seven clubs on the East Coast for an undisclosed sum as it prepares to open its 100th Planet Fitness location, the company announced.
The acquired clubs were former Planet Fitness locations in Maryland, Virginia, West Virginia and Washington D.C. They had been owned by PF Chesapeake.
The franchise group’s 100th club will open later this month in Philadelphia, and the 20,600-square-foot location will feature free training, 106 pieces of cardio and strength training equipment, a 360 machine, three HydroMassage beds and six tanning beds offering hybrid tanning.
This is the eighth acquisition for NFP, which started with one club in 2007. With the recent purchase and the soon-to-be-opened new Philadelphia location, NFP will have 107 clubs spread throughout Pennsylvania, Ohio, Delaware, Maryland, Virginia, West Virginia, North Carolina and South Carolina.
NFP is a portfolio company of Argonne Capital Group, LLC, an Atlanta-based private investment firm that first invested in NFP in 2016 when NFP had 10 locations.
In January, NFP acquired 15 locations in the greater Cleveland and Akron-Canton, Ohio, markets and one location in central Pennsylvania. The company has exclusive rights to develop 37 locations during the next five years.
“We remain confident with the long-term growth of the Planet Fitness brand, as encouraging membership and utilization trends continue to point to a successful re-emergence from the COVID-19 pandemic.,” Stephen Kindler Jr., president and CEO of National Fitness Partners, said in the announcement.
This acquisition fits into NFP’s long-term strategic plan by expanding its reach into new markets and strengthening its efforts to ensure more people have access to affordable fitness options, Kindler said.
“We believe regular exercise plays an essential role in enhancing the physical, mental and emotional well-being of our members,” Kindler said.