- Oops!Something went wrong.Please try again later.
F45 Training Holdings Inc (NYSE: FXLV) has agreed to acquire Australian fitness company Vive Active for an undisclosed sum. Vive offers reformer and mat Pilates workouts through in-studio, at-home streaming, and on-demand classes.
The deal will result in F45's ownership of Vive's existing company-owned studios and Vive's at-home platform, Vive Stream.
F45 intends to scale Vive by selectively adding new company-owned studios in key markets and accelerating the expansion of Vive in the U.S. and internationally.
The company expects to close the deal during the fourth quarter of 2021 and fund the acquisition with cash on hand. It held $18.2 million in cash and equivalents as of June 30, 2021.
Price Action: FXLV shares are trading lower by 0.56% at $15.92 on the last check Monday.
See more from Benzinga
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.