Mergers and acquisitions are not confined to the United States alone as Canadian fitness chain GoodLife Fitness Clubs announced today it has acquired seven Gold's Gyms.
GoodLife now has close to 300 clubs in Canada after the acquisition, which consists of four clubs in Alberta (including three in Calgary) and three in Ontario. Terms of the deal were not disclosed.
"We are excited about the prospect of acquiring these seven new locations in Alberta and Ontario to further grow the options of locations for our members and to welcome the Gold's Gym members to the GoodLife family," David Patchell-Evans, GoodLife Fitness founder and CEO, said in a statement.
All of the Gold's Gyms in the acquisition are independently owned and operated facilities. Gold's Gym will still operate almost 20 franchised locations in Canada.