HAMPTON, N.H., might 6, 2021 /PRNewswire/ — Planet Fitness, Inc. (NYSE: PLNT), one in all the largest and fastest-growing franchisors and operators of fitness gyms within the U.S. with a rise of individuals than each different fitness brand, nowadays declared a minority investment in iFIT, a revered welfare that’s international fitness technology business that develops and offers interactive laptop package, content, and instrumentality.
This investment develops upon Planet Fitness and iFIT’s existing collaboration declared in 2020, during which Planet Fitness partnered with iFIT to accelerate Planet Fitness’ digital offerings with swollen and increased content April.
“We area unit excited to essentially have the chance to speculate in iFIT, a frontrunner in streaming fitness that’s interactive,” aforesaid Chris Rondeau, CEO of Planet Fitness. “Given our size and scale as a frontrunner in offline fitness with further than a pair of,100 places, this relationship between each organizations deepens our current partnership and unlocks powerful opportunities to hurry up that’s more digital content strategy, and explore future complementary body and mind welfare offerings, making further price for the folks.”
Rondeau continued , “our content that’s differentiated is toward breaking down the barriers to fitness for the close to eighty nothing relating to the world that does not participate during a gymnasium, in line with the world welfare, racket & Sportsclub Association (IHRSA). we have a tendency to read our membership that’s digital as choice to introduce a lot of people towards the Judgement country and conjointly to more democratize fitness. i think that the continued way forward for the fitness trade is actually concerning bricks with presses – the effective mixture of activity folks with a superior quality, community centered in-person fitness expertise beside the power to interact they have been. victimization them outside our four walls, investing differentiated, premium content, wherever”
“We area unit excited to welcome Planet Fitness being associate capitalist that’s iFIT expand our current partnership,” aforesaid Scott Watterson, founder, president and CEO of iFIT. “Chris and the world Fitness team area unit leaders in brick and mortar fitness and share iFIT’s mission: to provide fitness that’s interactive for all. This investment and Planet Fitness’ continued partnership can speed up iFIT’s decades-long heritage of innovating immersive, participating fitness experiences for all, every-where. we have a tendency to anticipate furthering our create use of Planet Fitness and innovating along to make the coaching expertise that’s most helpful to the members anyplace they arrange to estimate.”
The partnership that’s current each brands has established current iFIT trainer-led exercises that stream on earth Fitness mobile package for folk of all of the fitness levels and passions that area unit fun, motivating and judgement free. This content that’s exclusive iFIT’s most well-liked trainers to your Planet Fitness family, with workouts for novice and intermediate levels to greatly facilitate folks progress through their fitness journey. many workouts area unit offered for gratis – to each Planet Fitness members and non-members – and span a spread that’s broad of and health classes, as well as at-home cardio, at-home strength-training, stretching and a lot of. These iFIT trainer-led exercises happen many of the foremost to-date that’s fashionable and in conjunction with the exercise assortment already accessible on the world Fitness App, tons over five hundred exercises area unit around for gratis.
Jefferies LLC served as sole consultant that’s financial Planet Fitness and iFIT Health & Fitness. Ropes & grey LLP served as legal adviser to Planet Fitness and Weil, Gotshal & Manges LLP served as applicable consultant to iFIT welfare & Fitness.
About Planet Fitness
Established in 1992 in capital of Delaware, NH, Planet Fitness is among the largest and franchisors which might be fastest-growing operators of fitness centers within the usa by variety of members and areas. The District of Columbia, Puerto anti-racketeering law, Canada, Panama, United Mexican States and Australia at the time of March thirty one, 2021, Planet Fitness had considerably over fourteen.1 million members and a pair of,146 stores in fifty states. The business’s mission is to boost people everyday lives by providing a elbow grease that’s best during a invitatory, non-intimidating surroundings, that we have a tendency to decision the Judgement complimentary Zone®. considerably over ninety fifth of Planet Fitness stores area unit operated and in hand by separate business folks.
iFIT welfare & Fitness could be a welfare that’s international fitness technology business that gives unmatched connected fitness experiences and answers to its growing community of a fantastic variety of engaged members across a hundred and twenty nations. IFIT’s industry-leading brands – NordicTrack®, ProForm® and Freemotion® – area unit running on the iFIT integrated health and fitness platform, that seamlessly links the company’s proprietary laptop package, experiential content and hardware that’s interactive. based mostly in Logan, Utah, the corporate offers immersive, adaptive, personalized elbow grease experiences for each fitness level and interest. because of the actual fact pioneer that’s original of health and fitness technology, iFIT is burning by manner of a passion to pioneer, by having a portfolio bigger than four hundred active and unfinished patents in areas starting from interactive streaming to accommodative fitness technology. iFIT provides these proprietary interactive experiences with associate substantial giving of live and content that’s on-demand a full array of fitness modalities.