Humphrey Cobbold, Chief Executive Officer of Pure Gym, said: “This transaction represents a good deal for members of both Pure Gym and LA Fitness as well as other consumers that are hungry for more affordable fitness options. Overall demand for affordable, high-quality, and no-contract fitness centres is continuing to grow, served by a range of providers in a highly competitive market-place.”

Martin Long, Chief Executive of LA Fitness, commented: “Following a successful restructuring and CVA last year, our business is trading well, with strong customer loyalty and momentum. This is the result of exceptionally hard work by all of our teams, during a period of uncertainty and we are pleased to have secured a new-long term owner in Pure Gym.”

Subject to regulatory approval, it is the company’s intention to convert most of the LA Fitness sites into Pure Gym gyms in a managed transition. This will require significant investment in refurbishing LA Fitness’s locations and will provide its existing 123,000 members with access to a growing nationwide network of over 130 gyms. Pure Gym has been working constructively with the Competition and Markets Authority (CMA) and the transaction has been submitted to the CMA for review. During this period or until such time as the CMA gives Pure Gym permission to proceed with its plans, the businesses will be operated separately.

Source & Image: Pure Gym