Health and Fitness Club Industry News: Chains
Thursday, December 5th, 2024
Planet Fitness Appoints Jay Stasz as Chief Financial Officer
Posted: October 30, 2024 in Chains
HAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT) (the "Company") one of the largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announces it has appointed Jay Stasz as its next Chief Financial Officer (CFO), effective November 15, 2024. Mr. Stasz will join the Company on November 4, 2024, and will work with current CFO Tom Fitzgerald until assuming the role. Read More...
Planet Fitness Supports Local Communities with Annual ‘Flexing for Good’ Volunteer Initiative
Posted: October 22, 2024 in Chains
HAMPTON, 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, recently held its annual 'Flexing for Good' volunteer initiative. 'Flexing for Good' invites Planet Fitness team members and franchisees to come together and volunteer to make a positive impact in local communities across the country. Read More...
Planet Fitness Inspires Nearly 3 Million High School Students to Prioritize Their Health with Annual High School Summer Pass Program
Posted: September 18, 2024 in Chains
HAMPTON, 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 nearly three million high school students signed up for its annual High School Summer Pass program, logging more than 12 million workouts this summer between June 1 and August 31. Read More...
Easy Mile Fitness Acquires Nine Planet Fitness Locations in Oregon
Posted: September 17, 2024 in Chains
BOSTON, MA - Easy Mile Fitness, a privately held Planet Fitness franchisee, has announced it has acquired nine Planet Fitness locations in Oregon from the Lubrano Franchise Group (OKTA Holdings). The new territory marks Easy Mile Fitness' entry into the west coast market. The nine Planet Fitness locations are located in the fast-growing market of Portland and Eugene, Oregon. Read More...
Planet Fitness Awards $250,000 in Scholarships to 50 Boys & Girls Clubs of America Teens In Support of its Judgement Free Generation Initiative
Posted: August 1, 2024 in Chains
ST. LOUIS, MO - 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 has awarded scholarships to 50 members of Boys & Girls Clubs across the U.S., in the amount of $5,000 per recipient, with more than half (52%) representing first-generation college students. Read More...
Planet Fitness Adds Edmonds, Washington Location
Posted: July 24, 2024 in Chains
TIMONIUM, 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, will soon expand its Seattle-area footprint. Read More...
Planet Fitness Expands Internationally With First Club Opening in Spain
Posted: July 22, 2024 in Chains
HAMPTON, 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 opening of its first club in Spain, located in the city of Sabadell in the province of Barcelona. As a part of the Company's strategic growth plan, Planet Fitness believes there is significant potential in Spain. The first several stores will be a joint venture with a franchisee partner and the remainder of the market will be franchised. Read More...
PerksFest Is Back: Planet Fitness Offers Deals From Top Brands Just in Time For Summer
Posted: June 19, 2024 in Chains
HAMPTON, 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
HAMPTON, 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
HAMPTON, 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
HAMPTON, 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
ST. 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
HAMPTON, 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
HAMPTON, 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
KENT, 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
HAMPTON, 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
TIMONIUM, 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
TIMONIUM, 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
HAMPTON, 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
HAMPTON, 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...
