24 Hour Fitness has agreed to acquire certain assets of Bally Total Fitness including 32 fitness clubs located in New York, New Jersey, Denver and the San Francisco Bay Area. It is anticipated that the transaction will officially close in the next two weeks.
Bally maintains a commitment to great service and facilities to improve the quality of life of our members, stated Steve Tucker, President and CFO, Bally Total Fitness. 24 Hour Fitness maintains a similar focus. We are leaving these 32 clubs in capable hands.
This is the first acquisition for 24 Hour Fitness CEO Mark Smith and President Frank Napolitano since the iconic fitness brand was acquired earlier this year.
This is an important day for both of our companies. Our No. 1 priority will be to ensure a welcoming and smooth transition of the clubs into the 24 Hour Fitness family, said Mark Smith, CEO, 24 Hour Fitness.
We have the best talent, resources, and operating platform to integrate these clubs seamlessly and we look forward to extending the 24 Hour Fitness brand in our core markets with this important transaction, stated Frank Napolitano, President, 24 Hour Fitness.
About 24 Hour Fitness
Headquartered in San Ramon, CA, 24 Hour Fitness serves nearly 4 million members in more than 400 clubs across the U.S.