Smart Fit acquires stake in Buddha Spa to fuel international expansion

Smart Fit has entered into an agreement to become a minority partner in Buddha Spa, Brazil’s largest spa network. The transaction involves the purchase and subscription of ordinary shares in Buddha Wellness Group Brasil, with an investment that could reach R$ 32 million. Under the terms of the shareholders' agreement, Smart Fit could initially acquire up to 20% of the capital, with an option to increase its stake to 30%.

The investment is intended to accelerate Buddha Spa’s international expansion and fund new units and acquisitions. The company plans to open its first international location in Vitacura, Santiago, Chile, this December. Following the Chilean launch, the network aims to expand into Paraguay, Argentina, Colombia, and Peru, with a long-term goal of reaching approximately 100 units across Latin America within five years.

Buddha Spa, founded in 2001 and currently managed by CEO Gustavo Albanesi, operates 149 units across 12 Brazilian states. The partnership aligns with Smart Fit’s strategy to strengthen its health and wellness ecosystem by incorporating complementary services.