TRT Holdings, Inc., the majority shareholder of Gold’s Gym since 2004, said the company will put the iconic fitness brand up for sale to focus more on the company’s core business. TRT has retained Piper Jaffray & Co. to conduct a sales process.
“Over the years we have received significant inbound interest from potential owners looking to buy the most iconic brand in fitness,” said TRT Holdings President Blake Rowling. “Given the tremendous growth currently happening in the fitness industry, the stellar leadership team we have in place and the recent excitement surrounding the evolution of the Gold’s Gym brand, that interest has spiked considerably. With TRT Holdings’ increased focus on its Omni Hotels & Resorts, we feel that now is the right time to go to market.”
Gold’s Gym CEO Brandon Bean added, “In the last 24 months we’ve rolled out an entirely new Gold’s Gym experience focused on broadening the brand’s appeal, expanding our membership base and getting more people than ever engaged in our unique products and services. The popularity and growth of the Gold’s Gym brand is at an all-time high, and we’re excited to work with a new ownership group to continue this momentum across all our key business units, including our company-owned gyms, domestic and international franchising operations and global licensing program.”
During its partnership with TRT Holdings, Gold’s Gym has grown to 700+ locations across six continents and has differentiated the brand through a series of new fitness offerings, including GOLD’S STUDIO, the company’s signature boutique-style fitness classes, BOOTCAMP large group training classes and 3D body scanning technology. With a core focus on innovation and expanding the brand’s reach beyond the four walls of the gym, Gold’s Gym also recently launched GOLD’S AMPTM, the first digital personal training and music app from a brick-and-mortar gym.
Dallas-based TRT Holdings is a large, diversified private holding company that owns Omni Hotels & Resorts and Gold’s Gym, as well as numerous other public and private investments.