Big Law
Planet Fitness Will Acquire Sunshine Fitness for $800 Million
Planet Fitness said Tuesday it plans to acquire Sunshine Fitness, an operator of more than 100 Planet Fitness fitness clubs in the U.S., in a cash-and-stock deal valued at $800 million.
The transaction is expected to close in the first quarter of 2022, the company said in a press release. Planet Fitness said the deal is projected to add to its adjusted earnings at a low-double-digit percent this year.
The purchase of Sunshine Fitness will allow Planet Fitness to diversify across more geographies, said Chief Executive Chris Rondeau. Sunshine Fitness operates primarily in the Southeast, with locations in South Carolina, North Carolina and Florida.
