On Tuesday, August 4, 2026, Smart Fit (SMFT3) announced that on August 3, 2026, it completed the acquisition of control of Evolve Participações em Sociedades S.A., through the subscription of new common shares representing 60% of Evolve’s total share capital.
Evolve currently operates 30 own gyms, 6 of which were opened in the last 12 months, and it has units under construction. The chain operates in Brazil’s Center-West region, mainly in the Federal District.
According to the company, the acquisition is aligned with Smart Fit’s expansion strategy and extends its presence in the Center-West, adding gyms located in commercial areas considered strategic.
The investment agreement signed on December 1, 2025 was amended to define the amount of capital to be contributed by Smart Fit to Evolve. The company will make an initial investment of R$ 39.7 million on the date of the announcement, with the remaining balance of up to R$ 60 million to be contributed subject to the fulfillment of conditions set forth in the agreement, adjusted by the IPCA from today’s date until each contribution. Smart Fit’s final stake in Evolve may still be adjusted based on Evolve’s net debt at the closing date, without changing the contribution amounts.
On August 3, 2026, Evolve’s shareholders’ agreement was executed, defining the company’s governance and the call and put options that may allow Smart Fit to acquire all Evolve shares held by minority shareholders.
