By Brazil Stock Guide – Panobianco Academia opened 15 gyms in August, bringing its Brazilian network to more than 360 operating locations. The expansion covered São Paulo, Goiás, Minas Gerais and Rio de Janeiro, according to a company statement.
The franchise chain entered seven new cities during the month: Valparaíso de Goiás, Mineiros and Goiânia in Goiás; Barrinha, Santa Fé do Sul and Mongaguá in São Paulo; and Juiz de Fora in Minas Gerais.
Panobianco also added locations in markets where it already operated, including Guarulhos, Araraquara, Rio Claro, São Paulo, Ribeirão Preto and São Vicente in São Paulo state, as well as São Gonçalo in Rio de Janeiro.
“The growth of Panobianco reflects the strength of our business model and our franchisees’ confidence in the brand’s potential. August was an important month, not only because of the number of openings but also because of our arrival in new markets. We continue to expand strategically, bringing a complete gym experience to more and more Brazilians,” Chief Executive Officer Felipe Barth de Castro said.
Target of 600 locations
Panobianco plans to reach 600 locations by the end of 2026. The company is pursuing the goal through franchise growth and a broader professionalization process involving governance, capital structure and operational management.
The chain has brought in Chris Rondeau, former CEO of Planet Fitness Inc. (NYSE: PLNT), as an investor-partner and strategic adviser for Brazil, Mexico and Latin America. Panobianco said Rondeau is supporting its development in areas including governance, operating structure and expansion.
Governance and international expansion
Panobianco is converting its corporate structure into a Brazilian corporation, known locally as a sociedade anônima, while introducing corporate-governance practices and reorganizing its capital structure to support franchise growth.
The company also received an International Franchise Certificate from the Brazilian Franchising Association, or ABF, as it prepares to expand into additional markets.
Founded in 2012, Panobianco focuses on affordable fitness services, particularly in small and midsize Brazilian cities. The company describes itself as Brazil’s largest gym network by number of franchises.
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