24 Hour Fitness announced that it has sold its California Fitness clubs, located throughout Asia, to The Ansa Group. The sale involves all eighteen California Fitness clubs in Hong Kong, Singapore and China. Financial terms were not disclosed. California Fitness was acquired by 24 Hour Fitness in 1999.
According to 24 Hour Fitness, the sale will enable the club to focus on U.S. operations. Currently, there are 400 clubs nationwide and nearly four million members.
“The sale of our Asia-based California Fitness clubs will enable 24 Hour Fitness to remain laser focused on our team members, members and clubs throughout the U.S.,” said Carl Liebert, the president and CEO of 24 Hour Fitness. “While our California Fitness operations no longer align with our greater business objectives, we’re proud of our contributions to the exercise and fitness industry in Asia.”
In addition, the New York Times’ Peter Lattman recently reported that 24 Hour Fitness may be up for sale. For more information, click here to read about the potential sale from the New York Times.