Earlier today, The Dallas Morning News covered a story that circled around a press release that the iconic Gold’s Gym had announced. In the release, Gold’s Gym stated that they were being acquired by RSG Group, a German-based fitness brand for a sum total of around $100 million.
This acquisition announcement comes roughly three months after Gold’s Gym filed for Chapter 11 Bankruptcy in early May. At the time of this filing, Gold’s Gym had also announced only weeks earlier that they would be closing multiple locations for good.
RSG Group’s Founder and CEO stated in the Dallas Morning News article,
“Gold’s Gym is a fitness institution that had a major influence on the industry’s development. It was a huge source of inspiration when I was setting up my first McFIT studio in Würzburg, Germany back in 1997. I am incredibly proud that, in partnership with their current leadership team, we will be able to breathe new life into this iconic brand under the umbrella of the RSG Group.”
The final approval for this acquisitions is set to be held on July 24th. This acquisition is the second time Gold’s Gym has been bought in the last decade. In 2014, the brand was purchased by TRT Holdings, Inc. for $158 million.
RSG Group, previously known as McFIT GLOBAL GROUP, owns multiple brands, and most notably, the McFIT brand and chain of gyms. McFIT is a chain of gyms that in 2011, earned the accolade Europe’s number one fitness chain. Since their start, RSG Group has continually brought on and acquired brands that have helped shape the direction of fitness all across Europe.
With the latest buyout, it’s going to be interesting to see how Gold’s Gym changes and innovates to tackle the new world of fitness. As of right now, there have been no additional details in regard to what changes Gold’s Gym will see in the immediate future or about overall branding changes to be expected.
Feature image from @goldsgym Instagram page.