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 in Portugal. The deal includes €100 million in cash and up to €2.5 million based on performance targets. Planet Fitness aims to maintain direct operations of Be-Fit clubs and work with the current management team to explore growth opportunities. The acquisition aligns with the company's international expansion strategy, as it already operates in Spain and sees potential in the Iberian market. Be-Fit clubs will gradually adopt the Planet Fitness brand, serving around 80,000 members. CEO Colleen Keating views this entry into Portugal as a significant step for international growth, with plans to enter one to two new markets annually.