NEWS
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Crunch Fitness franchisee secures growth funding – targets 50 clubs in the northeast of US |
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POSTED 23 Apr 2019 . BY Tom Walker |
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FHN's plans to build a 50-club network of Crunch gyms across the northeastern US
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Fitness Holdings Northeast (FHN), one of the largest franchisees in the Crunch Fitness network, has secured growth investment from private equity group Synergy Capital.
The investment will fuel FHN's plans to launch and operate a 50-club network of Crunch gyms across the northeastern US.
It currently operates 18 locations in the region and is set to open four more locations in 2019.
According to Bob Cooke, FHN chief executive, the funding will enable the company to expand not only regionally, but also nationally through a mix of acquisitions and new developments.
"In seeking a partner, I wanted to find someone who shares FHN's ambition of becoming the largest franchise group in the country with at least 50 clubs in its name," Cooke said.
"It was apparent during talks with Synergy that they indeed share this vision. Our alignment in culture and values will make for a long-term, fruitful partnership."
Headquartered in New York City, Crunch Fitness opened its first site in 1989 and has since grown steadily and now has more than 300 gyms across five countries.
FHN's growth plans are in line with the larger plans to grow Crunch into one of the leading gym groups in the US.
Last month, Crunch CEO Keith Worts said the company expects to open "somewhere between 60 to 100 locations a year over the next five to 10 years".
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Crunch gets investment from TPG private equity
POSTED 03 Jul 2019. BY Andy Knaggs
Crunch Fitness could double in size over the next five years, according to CEO Jim Rowley, following
the acquisition of the fitness chain by private equity group TPG.
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Second LA club for Crunch
POSTED 12 Apr 2012. BY Tom Walker
Crunch Fitness will open its latest location in the heart of Burbank,
California, US, this month - its second club in the LA area.
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Precor
Precor has been a pioneer in delivering fitness experiences for commercial customers for more than 4 [more...] |
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DIARY |
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