Extreme and Goodlife Fitness Aquire 16 Bally and Sports Clubs Facilities
Extreme Fitness Acquires Six Bally Total Fitness and Sports Club of Canada Fitness Clubs in Greater Toronto
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TORONTO – Extreme Fitness, Inc. announced that it has signed an agreement to acquire six Bally and Sports Club of Canada fitness clubs in Toronto from Bally Total Fitness Holdings Corp. The facilities to be acquired are the Sports Club of Canada locations known as The Dunfield, The Delisle and The Wellington and the Bally Total Fitness locations known as Bloor Street, Interchange and Cedarbrae. Financial terms of the transaction, were not disclosed. |
“Extreme Fitness plans to invest more than $20 million in the six newly acquired fitness clubs to upgrade their facilities, add state-of-the-art equipment, and ensure that they meet the company’s high quality and member-experience standard,” said Jim Solomon, chief executive officer of Extreme Fitness.
“The newly acquired clubs will be among the most lavish and design-conscious health clubs in the Greater Toronto Area,” said president and founder Steve daCosta. Other amenities planned for the renovations include fully equipped Pilates suites, hot and cold yoga studios, professional health centres, nutrition-conscious cafés, private personal training rooms, group fitness and cycling studios with ultramodern surround-sound systems, DJ booths for live performances, interactive executive business centres and theatre-sized screens in the common areas that can be used at member events to watch major sporting broadcasts, live concerts and movies.
Founded in 1995, Extreme Fitness currently has six fitness clubs in the Greater Toronto Area and approximately 45,000 members. The addition of the new clubs will double the number of Extreme facilities in Greater Toronto and increase total their memberships by more than 30% to approximately 60,000. The company plans to open a 13th club shortly and to expand to 20 clubs within the next 18 months. Extreme Fitness is a portfolio company of Falconhead Capital, LLC (www.falconheadcapital.com), a private equity firm.
Goodlife Closes Acquisition Deal For 10 Bally/Sports Clubs
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LONDON, ON – GoodLife Fitness Clubs announced the finalization of the acquisition of 10 of the Sports Clubs of Canada and Bally Total Fitness Canadian operations, bringing GoodLife’s total to 50 clubs in the Greater Toronto Area. With the addition of these 10 clubs, GoodLife owns and operates 141 clubs. They plan to have over 150 locations by December 2007. |
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