24 Hour Fitness and Bally Total Fitness (Bally) announced that 24 Hour Fitness has agreed to acquire certain assets of Bally Total Fitness, including 32 fitness clubs located in New York, New Jersey, Denver and the San Francisco Bay Area. It is anticipated that the transaction will officially close in the next two weeks.
“Bally maintains a commitment to great service and facilities to improve the quality of life of our members,” said Steve Tucker, the president and CFO of Bally Total Fitness, in a press release. “24 Hour Fitness maintains a similar focus. We are leaving these 32 clubs in capable hands.”
This is the first acquisition for 24 Hour Fitness CEO Mark Smith and president Frank Napolitano since the company was acquired earlier this year.
“This is an important day for both of our companies,” said Smith, in the release. “Our number one priority will be to ensure a welcoming and smooth transition of the clubs into the 24 Hour Fitness family.
“We have the best talent, resources and operating platform to integrate these clubs seamlessly and we look forward to extending the 24 Hour Fitness brand in our core markets with this important transaction,” said Napolitano, in the release.
