EASY MILE FITNESS ACQUIRES NINE PLANET FITNESS LOCATIONS IN OREGON
BOSTON, Sept. 17, 2024 /PRNewswire/ -- 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. With this acquisition, Easy Mile Fitness now owns and operates 50 locations across six territories including Florida, Georgia, South Carolina, Puerto Rico and Ontario, Canada. The nine clubs will benefit from plans for new construction in the future, new local marketing strategies and company culture.
"We couldn't be happier adding nine clubs into our existing portfolio. We're excited to be breaking out of the Southeast as we begin to establish Easy Mile Fitness in the Pacific Northwest," said Philip Amato, Chief Operating Officer for Easy Mile Fitness. "This acquisition fits with our internal goals and will help us execute against our vision of becoming a premier franchisee in the Planet Fitness system."
"It has been an amazing journey introducing the Planet Fitness brand to Oregon. As a family owned and operated franchisee since 2011, it was a difficult but meaningful decision. Looking forward, we believe in Easy Mile Fitness' operational talents and the timing of this transaction. We are excited to pass the business to a dedicated organization committed to elevating this incredible business model to new heights," said Octavio Lubrano, CEO/Owner for OKTA Holdings, a Planet Fitness franchise.
"Selling our business to another family-owned operator was a natural transition for OKTA Holdings. Easy Mile Fitness will bring operational excellence into the Pacific Northwest to continue leading this market forward. We wish Easy Mile Fitness continued success," said Kalpana Lubrano, COO/Owner for OKTA Holdings.
Easy Mile Fitness had legal counsel from Downs Rachlin Martin, tax advisory services from Baker Tilly US LLP, insurance diligence performed by Lockton, and financing provided by Private Credit at Goldman Sachs Alternatives. Seller received financial advisory services from North Point Mergers and Acquisitions, Inc. and legal counsel from Honigman Law Firm. Easy Mile Fitness will assume day-to-day operations of the club effective immediately.
About Planet Fitness
Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the world by number of members and locations. As of June 30, 2024, Planet Fitness had approximately 19.7 million members and 2,617 stores in all 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia. The Company's mission is to enhance people's lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which we call the Judgement Free Zone®. More than 90% of Planet Fitness stores are owned and operated by independent business men and women.
About Easy Mile Fitness
Easy Mile Fitness is a multi-unit franchisee of Planet Fitness health clubs located throughout the Southeast, and Pacific Northwest. Based in Boston, MA the company owns & operates 50 Planet Fitness clubs across Florida, Georgia, South Carolina, Puerto Rico, Oregon and Ontario, Canada. At Easy Mile Fitness we are singularly focused on our mission: To foster and serve our communities by enriching lives through passionate team members who embody Planet Fitness' values.
CONTACT INFORMATION:
Easy Mile Fitness
Michael Paone
[email protected]
SOURCE Easy Mile Fitness
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