Gold’s Gym International (GGI) will acquire all eleven Spectrum Athletic Club locations in the San Antonio area at the end of February 2012. With the acquisition, Gold’s Gym will have 20 total locations in San Antonio.
“We think it’s a really good fit for us in San Antonio,” said Jim Snow, president of GGI. The acquisition will allow for Gold’s Gym to appeal to customers at every level, and to meet the greater demand for health and fitness facilities that has grown in the greater San Antonio area.
Gold’s Gym will invest about $2 million into the acquired Spectrum locations — additionally, Gold’s plans to build additional gyms in San Antonio. “We’ll continue to look for locations in the southern part of the city and wherever there’s a need for a gym,” said Snow.
The 11 Spectrum Athletic Clubs will be rebranded under the Gold’s Gym brand. Current Spectrum members will receive continued current access to Spectrum locations, along with future access to all Gold’s Gyms locations across the country. There are plans in place to offer a tiered membership option to Gold’s Gym members allowing access to former Spectrum locations.
The acquisition will allow for Spectrum to continually invest in its 12 current locations in Southern California. Employees of the newly acquired Spectrums will receive opportunities to succeed with GGI. “We’re keeping everyone we can, of course,” said Snow. “This opens up a world of Gold’s Gym opportunities to Spectrum employees.”
By Rachel Zabonick
Good luck to the Spectrum employees. If you, or someone you know is there, call the Birmingham Gold’s to see how many employees are still on board with them…