Body Fit Training strikes $60m deal with Xponential Fitness Inc for US expansion

It’s attracted big names like Nick Riewoldt and the Aubusson brothers in Australia. Now, Body Fit Training has its eye on the US after striking a hefty deal.

Exclusive: A star-studded Australian fitness brand has struck a $60 million deal with an American company that will grow its presence across the US and Canada.

Body Fit Training announced on Thursday that it had entered into a partnership with Xponential Fitness Inc, the largest boutique fitness franchisor in the US.

The multimillion-dollar deal — which will also include additional payments based on growth — means Xponential has fully acquired the Australian brand’s intellectual property, but has the rights to sell franchises in only the US and Canada.

Body Fit Training (BFT) will continue to operate as the master franchisor in Australia, New Zealand and Singapore. The company said the partnership would allow it to focus on growing its presence in existing and new markets in the Asia Pacific region and beyond.

From L to R: Cameron Falloon (BFT founder and joint CEO), Hamish McLachlan (investor), and Richard Burnet (BFT joint CEO). Picture: Supplied

Among BFT franchise owners are some of the biggest names in Australian sport, including retired St Kilda star Nick Riewoldt; ex-cricketer George Bailey; current Test captain Tim Paine; former NRL players and brothers, James and Mitch Aubusson; and Essendon midfielder Zach Merrett.

The company’s joint CEOs Cameron Falloon and Richard Burnet said in a statement: “We are delighted to partner with one of the world’s leading fitness operators to continue our growth globally and provide additional brand strength for our franchisees and members.

“We are particularly proud of the circa 35,000 strong member base we have created and the franchisees who continue to believe in the brand, and we look forward to taking BFT to the next level.”

Mr Burnet told News Corp Australia that BFT’s original owners would continue to expand the brand across the world.

“Xponential bought all of the IP (intellectual property) of BFT, but BFT is still owned by the original owners,” Mr Burnet said.

“There will be a revenue share arrangement going forward between the two parties.”

BFT was founded by Mr Falloon, a former personal trainer to Princess Diana, in 2017. Since then, the brand has sold more than 300 franchises across Australia, New Zealand, Singapore and the US.

Nick Riewoldt and Tim Paine have opened two Body Fit Training studios in Tasmania and are set to launch more. Picture: Supplied

Brothers and former NRL players Mitch and James Aubusson own a BFT franchise in Ballina. Picture: Supplied

The number of BFT studios is expected to grow from 130 to at least 300 in the next 12 months. They offer group functional training programs, including 50-minute progressive cardio and strength-based classes across 13 workout programs.

US-based Xponential debuted on the New York Stock Exchange in June.

With brands including Club Plates, CycleBar, StretchLab, Row House, AKT, and YogaSix, among others, it has studios in 48 US states and Canada, and 10 other countries, including Australia, through master franchise or international expansion agreements.

“We are very pleased to announce the addition of our tenth brand through the partnership with BFT,” Xponential Fitness Inc’s CEO, Anthony Geisler, said in a statement.

“We see significant opportunity to expand BFT’s existing studio base both in the US and internationally, as we leverage the Xponential Playbook to provide robust franchisee support, implement best practices and leverage synergies across our entire portfolio,” he added.

Mr Falloon said in September that he hoped to expand BFT from the current two sites — in Santa Monica, California, and Fort Lauderdale, Florida — to 500 studios over the coming years.