Fitness companies plan to merge
Pending regulatory approval, the combination will create a national gym operator.
Pure Gym launched in 2009 and operates 61, 24-hour gyms across the UK with one site in Northern Ireland. Its members pay monthly, with no contract commitment.
The Gym Group was founded in 2007 and operates 42 gyms across the UK.
Peter Roberts, chief executive of Pure Gym, said: “This agreed deal unites two innovative players in the fast-changing gyms sector, where the low-priced model is improving consumer choice and contributing to better exercise levels across the country. We expect our complementary brands and locations to encourage even more people to join gyms.”
John Treharne, chief executive of The Gym Group, added: “Customers want total flexibility and value-for-money options when it comes to keeping fit. This enlarged business, combining great facilities and excellent trainers, will provide a compelling alternative to existing gym providers.”
As part of the merger agreement, Peter Roberts of Pure Gym will become executive chairman of the new group, while John Treharne will be chief executive.
The new company will be a combination of the current Pure Gym, owned by CCMP Capital Advisors, LLC and The Gym Group owned by Phoenix Equity Partners and Bridges Ventures. Financial terms have not been disclosed.