CHICAGO -- Fitness Formula Clubs (FFC) has acquired the 54,000-square-foot Crunch Gym in Chicago’s Lincoln Park neighborhood. FFC made the purchase from the Crunch Chapter 11 bankruptcy court proceedings in New York.
FFC, a Chicago-based company, has begun to upgrade the existing facility to reflect the FFC brand. The transition between the two companies was handled without any interruption of service to the membership, according to a release from FFC.
Celebrating its 25th anniversary in 2009, the acquisition is the ninth full-service FFC location, in addition to three corporate fitness centers the firm manages on behalf of major real-estate office developers.
“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 Fitness Formula Clubs, said in a release from the company.
Earlier this year, FFC made two other acquisitions. In August, the firm acquired the Presidential Towers Fitness Club in Chicago’s West Loop, currently being expanded to 52,000 square feet. In September, FFC acquired more than 2,300 membership agreements out of Chapter 11 bankruptcy proceedings of another Crunch location.