CHICAGO — As Crunch continues its previously announced move out of Chicago, Fitness Formula Clubs (FFC) is cashing in by buying memberships and a former Crunch location to expand its brand.
In late November, FFC acquired the 54,000-square-foot Crunch in Chicago's Lincoln Park neighborhood. In September, FFC paid $50,000 for 2,300 memberships from Crunch's club at Grand and Wabash in Chicago, which Crunch closed as part of its Chapter 11 bankruptcy proceedings.
These moves came after FFC had already acquired in August a non-Crunch club, the Presidential Towers Fitness Club, in Chicago's West Loop. FFC is expanding that club to 52,000 square feet.
FFC, a Chicago-based company celebrating its 25th anniversary, also is upgrading the former Crunch facility in Lincoln Park to reflect the Fitness Formula brand. The club will be the largest tenant in the high-end, mixed-use building, which is owned by Principal Global Investors.
The transition between the two companies was handled without any interruption of service to the membership, according to a press release from the company.
FFC is honoring all prepaid memberships through their renewal date and all personal training sessions from the Lincoln Park club and from the memberships at the closed Crunch location. FFC now has nine full-service locations and manages three corporate fitness centers.
“Lincoln Park is a hub of residential, retail and commercial activity, and our newest location in the neighborhood will be a tremendous asset to our company and our valued members,” Gale Landers, founder and CEO of the company, said in the press release. “We're well-positioned to execute upon our goal of providing proven fitness programs, diverse classes and expert trainers to help ensure the physical wellness of our members in Lincoln Park and throughout the city. In addition, with two hours of free parking, we will provide a high value experience to Lincoln Park and the surrounding neighborhood.”