North American Planet Fitness buys Be-Fit for €102.5 million and enters Portugal

Planet Fitness has acquired the Portuguese gym chain Be-Fit for approximately €102.5 million, expanding its operations to 25 clubs in Portugal with around 80,000 members. The deal includes €100 million in cash and up to €2.5 million based on performance targets. This acquisition aligns with Planet Fitness's international expansion strategy, as it already operates in Spain and sees growth potential in Portugal. The Be-Fit clubs will gradually rebrand to Planet Fitness, and the CEO emphasized this move as a significant step in the company's growth plans, aiming to enter one to two new markets annually.