2014

Gold's Gym Acquires 17 Of 18 Fitness First Health Club Locations In The Washington, D.C. Metro Area Brand Becomes Largest Fitness Provider in Nation's Capital Region Overnight

    

DALLAS, June 20, 2013 /PRNewswire/ -- Gold's Gym, the world's leading authority on health and fitness, announced today the acquisition of 17 Fitness First Health Club locations in Maryland, Virginia and Washington, D.C. The deal is officially slated to close in the next week. With 32 locations already in the Washington D.C. metro area, Gold's Gym is now the largest fitness provider in the nation's capital region, with nearly 50 locations in the metro area.

"Gold's Gym strives to help our members realize and achieve their fitness potential, and we're looking forward to continuing the great work that we've done here in D.C. with our new members and associates joining us from Fitness First," said Jim Snow, chief executive officer and president of Gold's Gym. "Now, with close to 50 Gold's Gym locations in the Washington, D.C. area, it is easier than ever for local residents to find a Gold's Gym that's convenient for them. No matter where you are in your fitness journey, we can help you get into the best shape of your life."

As part of the deal, in the coming months all of the Fitness First clubs, except for the location in Bethesda, Maryland, will be rebranded under the Gold's Gym name. All current Fitness First memberships will be honored. Gold's Gym intends to introduce membership options that will allow former Fitness First members access to additional Gold's Gym locations. For current Gold's Gym members, options are also in development that would grant access to former Fitness First locations. Fitness First will continue to own and operate its location in Bethesda, Maryland under the Fitness First brand.

As one of the largest and most respected companies in the fitness industry, Gold's Gym has a strong ownership group with years of award-winning customer service experience. Founded in 1965, the company has more than 47 years of experience delivering life-changing results for its members and is universally perceived as the authority in fitness.

"We're confident that our members and employees will continue to get the results they expect under Gold's Gym," said Peter Harvey, founder of Fitness First. "We think it's a natural fit and the transition will be seamless. Amy DiPasquale, COO of Fitness First, and I are grateful to all of our employees and loyal members over the years and believe this transition will allow for greater access to more clubs in the D.C. area."

About Gold's Gym

Established in Venice, Calif. in 1965, Gold's Gym is the most recognized gym chain in the world with more than 650 locations in 37 states and 28 countries. The iconic brand ranks in the top 15 percent of Entrepreneur magazine's 2011 "Franchise 500." Gold's Gym offers the latest equipment and services, including group exercise, personal training, cardiovascular equipment, group cycle, Pilates and yoga. With nearly 3 million members worldwide, Gold's Gym helps all kinds of people achieve their individual potential through fitness. For more information please visit www.goldsgym.com, www.facebook.com/goldsgym or www.twitter.com/goldsgym.

About Fitness First

Fitness First (www.fitnessfirstclubs.com) is the leading independently owned health club chain in the Washington Metropolitan Area, operating 18 clubs serving over 60,000 members in Maryland, Virginia and Washington, D.C. Fitness First was advised by Integrity Square LLC (www.integritysq.com).

SOURCE Gold's Gym



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