The new owners of Planet Fitness will inject $30 million into Puerto Rico in 5 years. – News is my business

The company plans to open 11 more Planet Fitness locations in Puerto Rico over the next five years.

Easy Mile Fitness (EMF), a franchise of Planet Fitness, announced the acquisition of 13 Planet Fitness clubs in Puerto Rico from the Sciacca Group.

The acquisition also includes development rights to bring more locations to Puerto Rico over the next five years as it plans to invest a total of $30 million, the company’s owners said.

The deal will bring EMF’s club count to 30, making it one of the largest private franchisees in the Planet Fitness system.

“We are excited to expand our footprint in Puerto Rico in the years to come,” said EMF CEO Philip Amato. “With physical and mental health being a priority for everyone, we see a tremendous opportunity to provide an affordable fitness option to a vibrant and exciting community.”

EMF has built five new clubs during the COVID-19 pandemic and plans to continue expanding its portfolio in Puerto Rico with the potential to open 11 more locations over the next five years. This would represent the creation of up to 250 new jobs.

The company’s senior management will remain in Santurce, where it has operated since 2011.

EMF is based in Boston and is a multi-unit franchisee of Planet Fitness with over 30 health clubs located throughout the Southeast, Canada and Puerto Rico. Meanwhile, as of March 31, 2022, Planet Fitness had over 16.2 million members and 2,291 stores in 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia.

This story was written by our staff based on a press release.

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