PureGym wants to go big in the US.
What’s happening: The British HVLP gym operator signed a $105M agreement for Equinox-owned Blink Fitness’s assets in New York and New Jersey.
Capitalizing on Blink’s chapter 11 bankruptcy filing, it gives PureGym “stalking horse” status, establishing the base price for the budget chain at auction this October.
The American dream. Operator of 600 sites in ten countries, with three under the Pure Fitness banner in the US, PureGym is intent on expanding in North America.
Still pending approval of a court-supervised sale, Pure Fitness stands to add ~60 units. Of note, Blink’s locations in TX, IL, and CA are excluded from the PureGym offer.
Growing gains. Deal or no deal, PureGym is growing on all fronts.
Advancing operations, international franchise specialist Clive Chesser will become CEO in November.
Takeaway: With HVLP incumbents like Crunch, EōS, and Planet Fitness entrenched and expanding, all eyes will be on the auction to see if a new regional power emerges.
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The more advanced students at Aerial Haven in College Point rise to meet the studio’s 25-foot ceilings. Photo by Iryna Shkurhan Sign up
Freda Schopfer, a former middle school teacher for 30 years in the Upper Moreland School District, was recently featured in an article by KYW Newsradio titl