PureGym expands London estate with Soho Gyms acquisition
By Josh White
Date: Friday 22 Jun 2018
(Sharecast News) - PureGym has completed the acquisition of Soho Gyms and its 10 fitness clubs, all of which it said were based in prime London locations, and were "highly complementary" to PureGym's existing estate.
Similar to the successful integration of the LA Fitness business, which it acquired in 2015, PureGym said it would invest in refurbishing the gyms, providing
Soho Gyms' existing members with access to first-class facilities and a growing nationwide network of 214 gyms.
The transaction would bring the number of sites in PureGym's London estate to 59.
"We're absolutely delighted to announce the acquisition of Soho Gyms and look forward to welcoming their members to PureGym," said PureGym chief executive Humphrey Cobbold.
"As the leading gym operator in the country and in the capital, this deal will clearly benefit our existing members as well as provide more affordable and flexible options to people across London.
Michael Crockett, managing director of Soho Gyms, added that PureGym offered a "highly attractive" and flexible proposition, with its popularity evidenced by continued strong growth in both members and sites.
"This transaction will give users of Soho Gyms access to the largest network of gyms in the UK.
"I'm confident that our members will benefit from the combination and that PureGym's investment across the estate will further enhance the services our sites deliver."
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