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Health and Fitness Club Industry News: Chains

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PerksFest Is Back: Planet Fitness Offers Deals From Top Brands Just in Time For Summer
Posted: June 19, 2024 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, one of the largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announces the return of PerksFest, to further celebrate Planet Fitness members and provide the opportunity to score even deeper deals from popular brands for a limited time. Read More...

Planet Fitness, Inc. Completes Refinancing Transaction; Announces $280 Million Accelerated Share Repurchase Program
Posted: June 18, 2024 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT) (together with its subsidiaries, the "Company") announces that it has completed its previously announced refinancing transaction. The Company also announces that it has entered into a $280 million accelerated share repurchase agreement (the "ASR Agreement") with Citibank, N.A. (the "Bank"). The Company will acquire shares under the ASR Agreement as part of its $500 million share repurchase authorization previously announced on November 8, 2022 (the "2022 Share Repurchase Program"). As of June 13, 2024, before giving effect to the ASR Agreement, approximately $355 million remained available for share repurchases pursuant to the 2022 Share Repurchase Program. Read More...

Planet Fitness Prices $800 Million Securitized Financing Facility
Posted: June 7, 2024 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT) (together with its subsidiaries, the "Company") announces that it has priced $800 million of Series 2024-1 Class A-2 Fixed Rate Senior Secured Notes (the "Class A-2 Notes"), which consist of two tranches: the Class A-2-I Senior Secured Notes with an anticipated repayment term of five years, with an aggregate principal amount of $425 million and a fixed interest rate of 5.765% per annum, payable quarterly, and the Class A-2-II Senior Secured Notes with an anticipated repayment term of ten years, with an aggregate principal amount of $375 million and a fixed interest rate of 6.237% per annum, payable quarterly. Read More...

Planet Fitness, Inc. Announces Proposed Refinancing Transaction
Posted: May 29, 2024 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT) (together with its subsidiaries, the "Company") announces that certain of its subsidiaries intend to complete a refinancing transaction, which will include the issuance of a new series of securitized debt under their existing securitized financing facility and repayment of their existing Series 2018-1 Class A-2-II Notes. Read More...

Midwest Fitness Partners Continues Planet Fitness Expansion Into St. Louis Metro
Posted: May 6, 2024 in Chains

Planet FitnessST. LOUIS, MO - Midwest Fitness Partners (MFP), one of the largest and fastest-growing Planet Fitness franchisees announces they have four new units in development in the St. Louis metro area. Cornerstone, MFP's real estate company, has developed over 850,000 square feet of retail real estate assets with Planet Fitness as anchor. Their portfolio spans 11 states throughout the Midwest and Southern U.S. Read More...

Planet Fitness Names Colleen Keating Chief Executive Officer
Posted: April 16, 2024 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT) (the "Company"), announces that it has appointed Colleen Keating as the Company's Chief Executive Officer, effective June 10, 2024. At that time, Craig Benson will resign as Interim CEO but will continue to serve as a member of the Company's Board of Directors. Read More...

Planet Fitness and Megan Thee Stallion Release a Second Co-Branded Merch Collection “Thee Hottie Drop” in Honor of Women’s History Month
Posted: March 13, 2024 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, one of the largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announces its second drop of limited-edition, co-branded merch with Megan Thee Stallion, also known as 'Mother Fitness.' In support of women's empowerment, 'Thee Hottie Drop' will be available for purchase through March 31, or until supplies last. Planet Fitness will donate 100% of its sale profits* to both Pete & Thomas Foundation and SeekHer Foundation to empower women and advance their mental and physical wellness. Read More...

CDM Fitness Holdings Grows Pacific Northwest Footprint with Purchase of Seven Tacoma-Area Planet Fitness Clubs
Posted: March 12, 2024 in Chains

Planet FitnessKENT, WA - CDM Fitness Holdings (CDM), an SBJ Capital portfolio company [based in Foxborough, MA, with an office in Kent, WA] and one of the largest developers and operators of fitness clubs under the Planet Fitness brand, announces the purchase of seven Tacoma, Washington-area Planet Fitness clubs from Jeg Viper LLC of Philadelphia. The properties total nearly 162,000 square feet. This transaction (which did not involve brokers) grants CDM the rights to build and operate additional clubs in the Tacoma area. Read More...

Planet Fitness Chief Financial Officer Tom Fitzgerald to Retire
Posted: February 22, 2024 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT) (the "Company"), announces that Tom Fitzgerald, Chief Financial Officer, has informed the company of his intention to retire at the end of August 2024. In connection with this transition, the company will conduct a comprehensive search to identify a new CFO with the assistance of a leading executive search firm. Read More...

Planet Fitness Opens in Wheaton, Maryland
Posted: January 31, 2024 in Chains

Planet FitnessTIMONIUM, MD - Planet Fitness, one of the nation’s largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announces that its Wheaton club is now open. Planet Fitness Wheaton is owned by Victor Brick's Ohana Growth Partners, a franchise division of Planet Fitness. Read More...

Planet Fitness Opens in Lake Stevens
Posted: January 30, 2024 in Chains

Planet FitnessTIMONIUM, MD - Planet Fitness, one of the nation’s largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announces the opening of its Lake Stevens club in Washington state. Planet Fitness Lake Stevens is owned by Victor Brick's Ohana Growth Partners, a franchise division of Planet Fitness. Read More...

Planet Fitness Launches Multi-Channel Media Network
Posted: January 3, 2024 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, one of the largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announces the launch of its multi-channel advertising solution, the PF Media Network. The PF Media Network aims to connect advertisers to Planet Fitness members, in-club and digitally across channels, to drive awareness and sales. The PF Media Network will consist of three channels: in-club media, digital audiences and affiliate campaigns. Read More...

Planet Fitness Debuts Empowering Partnership With Megan Thee Stallion, Dubbing Her As ‘Mother Fitness’ in a Dynamic Collaboration for the New Year
Posted: December 28, 2023 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, one of the largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announces its partnership with three-time, Grammy award-winning artist, entrepreneur, philanthropist and health advocate Megan Thee Stallion. The bold new campaign features Megan as 'Mother Fitness,' encouraging gym goers to leave behind the barriers, including intimidation and high prices, commonly found at other gyms and join Planet Fitness, home of the Judgement Free Zone, to find their Big Fitness Energy. Read More...

Planet Fitness Raises More Than $1 Million in 2023, Benefiting Long-Time Partner Boys & Girls Clubs of America
Posted: December 21, 2023 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, one of the largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announces the company has contributed more than $9 million to Boys & Girls Clubs of America (BGCA) since 2016, raising over $1 million just this year. This fundraising effort is made possible through the generous contributions of team members, franchisees, members and through Planet Fitness' philanthropic initiative, the Judgement Free Generation, which aims to empower the next generation to promote kindness and contribute to a more inclusive, judgement free planet. Read More...

Planet Fitness Announces Return as Presenting Sponsor of New Year’s Eve Celebration in Times Square
Posted: December 6, 2023 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, one of the largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announces it will be returning as the presenting sponsor of Times Square's New Year's Eve celebration for the ninth consecutive year, in partnership with Times Square Alliance and Countdown Entertainment. Read More...

Planet Fitness Launches “Perksfest” With Exclusive Discounts From National Brand Partners to Kickstart Holiday Shopping Season
Posted: November 27, 2023 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, one of the largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announces PerksFest is kicking off today through December 11, where all Planet Fitness members can take advantage of special deals from popular brands like Fitbit, Crocs, Hotels.com, Expedia, Blue Apron and more. Read More...

Planet Fitness Announces Annual Fundraiser to Support Boys & Girls Clubs of America
Posted: October 6, 2023 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, one of the largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, kicks off National Bullying Prevention Month with its annual fall fundraiser in support of longtime partner Boys & Girls Clubs of America (BGCA). From October 1 – 31, members are invited to make a donation at U.S. and Puerto Rico Planet Fitness clubs or online, where 100% of funds will directly support youth-focused programming and academic scholarships for Boys & Girls Club kids with the goal of building a kinder, more accepting world for the next generation. Read More...

Planet Fitness Corporate Team Members Support Local Communities Through its ‘Flexing For Good’ Month-Long Volunteer Initiative
Posted: September 28, 2023 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, one of the largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, is continuing to enhance people's lives and create a healthier world by hosting a company-wide 'Flexing for Good' volunteer initiative for its corporate team members. Read More...

More Than 3 Million High School Students Signed Up For Planet Fitness’ ‘High School Summer Pass’ Program and Put Fitness First This Summer
Posted: September 20, 2023 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, one of the largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announces that more than 3 million high school students signed up for its High School Summer Pass initiative this year. Teen participants in the program, which just wrapped its third year, logged 14.5 million workouts during a span of three-and-a-half months. Read More...

Planet Fitness Announces Leadership Transition
Posted: September 15, 2023 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT) (the "Company"), announces that Craig R. Benson, a member of the Company's Board of Directors, has been appointed Interim Chief Executive Officer, effective immediately. Benson's appointment follows the decision by the Board to transition to new leadership, resulting in Chris Rondeau's departure as the Company's CEO. Rondeau will continue to serve as a member of the Company's Board of Directors and will be nominated for re-election at the Company's 2024 Annual Meeting. Rondeau will continue to serve the Company in an advisory role as contemplated under his existing agreements with the Company to help ensure a smooth transition. In connection with this transition, the Board is engaging a leading executive search firm to assist in a comprehensive search process to identify a permanent CEO, with both internal and external candidates being considered. Read More...

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