Gold’s Gym International, Inc. announced the acquisition of three Birmingham, Ala., area Gold’s Gym’s. Previously owned and operated by entrepreneur Stephen Dawahare, this marks a significant milestone for the Gold’s Gym brand, currently celebrating its 45th anniversary.
As part of the sale process, Gold’s Gym International (GGI) and Dawahare developed a strategy for a seamless ownership transition. Dawahare’s collection of gyms have long been staples in the Birmingham community and will continue to operate without interruption.
“Stephen has been one of the most successful franchise owners in the Gold’s Gym system. He has established a well-run group of Gold’s Gym locations,” said Jim Snow, the president of Gold’s Gym International. “We are thrilled to have the opportunity to work with such a strong management team and talented pool of employees, and look forward to enhancing the member experience with new customer service initiatives. This acquisition reflects the unwavering commitment of our ownership group, TRT Holdings to both GGI and the Gold’s Gym brand.”
“We felt strongly that GGI and TRT Holdings could take our Birmingham-area operations to the next level,” said Dawahare. “They understood the important role our employees play in the lives of thousands of community members, and shared a similar perspective on the potential of the brand in this marketplace. While it’s bittersweet to pass the torch to a new ownership group, I am excited about the future of Gold’s Gym in the Birmingham area.”
This is Gold’s Gym International’s second acquisition of a franchisee operation this year, and the brand continues to see more growth on the horizon. Additionally, Gold’s Gym International has invested heavily in club enhancements with millions of dollars going towards renovations across its portfolio.
