The amount of the transaction was not disclosed.
The company will use the proceeds to enhance its fitness brands, as well as develop new health and wellness brands for its customer base.
Founded in 2003 by CEO and President Peter Taunton, Snap Fitness has approximately 2,000 clubs open or under development in 15 countries.
The firm operates fitness concepts—24-hour health clubs, kickboxing-based 30-minute fitness clubs, group fitness/boot camp workout clubs and high-end personal training—with quality nutritional consultation. Its portfolio of brands includes Snap Fitness, Kosama, 9Round Fitness and STEELE Fitness, offered on a no-contract basis.