Mon, 25 Jun 2018 | BUSINESS SALE
Leeds-headquartered PureGym has acquired nightclub-owner Jeremy Norman’s Soho Gyms in a multimillion-pound sale. The acquisition of the 10 London gym locations will take PureGym’s fitness base to a total of 59 locations across the city.
Soho Gyms will be converted to the PureGym format in a rolling refurbishment scheme, but will continue to operate under its current brand in the meantime.
Chief Executive Humphrey Cobbold said: “We’re absolutely delighted to announce the acquisition of Soho Gyms and look forward to welcoming their members to PureGym.
“As the leading gym operator in the country and in the capital, this will clearly benefit our existing members as well as provide more affordable and flexible options to people across London.”
Launched in 2009, PureGym has grown to become the UK’s largest fitness chain by membership, and has over 200 sites across the country with 24-hour services. It reached one million users in February 2018, and offers a number of affordable monthly and contract memberships for its customers.
Managing director of Soho Gyms, Michael Crockett, said: “Pure Gym offers a highly attractive and flexible proposition and its popularity is evidenced by continued strong growth in both members and sites.
“This transaction will give users of Soho Gyms access to the largest network of gyms in the UK. I’m confident that our members will benefit from the combination and that PureGym’s investment across the estate will further enhance the services our sites deliver.”
An excellent opportunity exists to purchase the business and assets of a well-established festival business that has built up a successful annual festival in the South East of England. Offers invited.
LEASEHOLD
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