In an email sent to Club Industry this morning, LA Fitness announced that it will acquire assets relating to all of the Urban Active clubs in seven states, subject to various conditions. Terms of the agreement were not disclosed.
“While the parties are hopeful that the transaction will be completed within the next several weeks, there can be no assurance as to when or whether a closing will occur,” LA Fitness said in the email.
Last year, LA Fitness reportedly attempted to acquire Urban Active, but that deal fell through.
According to its website, Urban Active has 36 clubs in Ohio (19), Kentucky (10), Tennessee (three), Georgia (one), Nebraska (one), North Carolina (one) and Pennsylvania (one). It ranked No. 9 on Club Industry’s Top 100 Clubs list this year with $107.5 million in 2011 revenue.
This is yet another major acquisition for LA Fitness. Last November, LA Fitness acquired 171 Bally Total Fitness clubs, and this summer, it acquired the remaining 32 Lifestyle Family Fitness clubs in the state of Florida.
LA Fitness was No. 2 on Club Industry’s Top 100 Clubs list this year with an estimated $1.2 billion in 2011 revenue. It listed 505 clubs open nationwide and in Canada as of Jan. 1, 2012, but with the 32 clubs it acquired from Lifestyle Family Fitness, the expected 36 clubs from Urban Active and other greenfield development this year, that number of clubs is likely to be closer to 600 by the end of 2012.