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Xponential Fitness (NYSE:XPOF) said it inked its first Master Franchise Agreement in the UK with a deal for Club Pilates in England, Scotland, Wales and Northern Ireland.
The agreement gives the master franchisee the opportunity to license at least 50 Club Pilates studios over the next ten years.
Xponential Fitness (XPOF) established its presence in the region in Q1 of 2022 with a direct franchise territory sale for its portfolio brand Body Fit Training. The first Club Pilates studio in the UK is expected to open in 2023.
The new studios will bring Club Pilates’ international reach to 12 countries outside of North America, following Master Franchise Agreements in Australia, New Zealand, Japan, South Korea, Singapore, Dominican Republic, Saudi Arabia, Mexico, Austria, Germany, and Spain.
Shares of XPOF gained 1.59% in mid-morning trading on Tuesday.