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Town Sports International Holdings to acquire Lucille Roberts Health Club Business

Published 07/14/2017, 09:42 AM
© Reuters. Town Sports International Holdings to acquire Lucille Roberts Health Club Business
CLUBQ
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  • Town Sports International Holdings (CLUB) entered into an agreement to acquire Lucille Roberts Health Clubs businesses.
  • The transaction is estimated to close within the next month.
  • The acquisition will add 16 clubs to TSI's portfolio in the Northeast and Mid-Atlantic regions of the United States. The Company also plans to retain virtually all club employees.
  • "This acquisition is a prime example of TSI's targeted growth strategy," said Patrick Walsh, TSI's Chief Executive Officer. "Lucille Roberts has a loyal membership base that loves the women's only membership option. While the acquired locations will continue to operate as women's only gyms, TSI will also offer an option for Lucille Roberts' members to access all the clubs in the diverse TSI portfolio. This acquisition will allow those members to utilize the broad array of fitness options and convenient workout locations that are synonymous with New York Sports Clubs."
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