New Planet Fitness owners to pump $30M into Puerto Rico in 5 yrs.
Easy Mile Fitness (EMF), a franchise of Planet Fitness, announced its 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, when it plans to invest a total of $30 million, company owners said.
The deal will bring EMF’s club count to 30, making them one of the largest privately held franchisees in the Planet Fitness system.
“We’re excited to expand our footprint in Puerto Rico in the coming years,” said EMF’s CEO Philip Amato. “With physical and mental health top of mind for everybody, we see a tremendous opportunity to bring an affordable fitness option to a vibrant and exciting community.”
EMF has built five new clubs during the COVID-19 pandemic and has plans to continue expanding its portfolio in Puerto Rico with the opportunity to open 11 more locations in the next five years. That would represent creating up to 250 new jobs.
The company’s senior management will remain in Santurce, where they have been operating since 2011.
EMF is based in Boston and is a multi-unit franchisee of Planet Fitness with more than 30 health clubs located throughout the Southeast, Canada and Puerto Rico. Meanwhile, as of March 31, 2022, Planet Fitness had more than 16.2 million members and 2,291 stores in 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia.