PureGym
PureGym wants to go big in the US.
What’s happening: The British HVLP gym operator signed a $105M agreement for Equinox-owned Blink Fitness’s assets in New York and New Jersey.
Capitalizing on Blink’s chapter 11 bankruptcy filing, it gives PureGym “stalking horse” status, establishing the base price for the budget chain at auction this October.
The American dream. Operator of 600 sites in ten countries, with three under the Pure Fitness banner in the US, PureGym is intent on expanding in North America.
Still pending approval of a court-supervised sale, Pure Fitness stands to add ~60 units. Of note, Blink’s locations in TX, IL, and CA are excluded from the PureGym offer.
Growing gains. Deal or no deal, PureGym is growing on all fronts.
- Buoyed by £805M in refinancing, it’s targeting 200 European sites and 130 in MENA by 2030.
- PureGym’s 2023 revenue grew by 15% to £549M, while total membership surpassed 2M in 2024.
- Expanding on 20 MENA sites, it opened the first of three gyms in Jeddah this month, with North Africa and Gulf countries up next.
Advancing operations, international franchise specialist Clive Chesser will become CEO in November.
Takeaway: With HVLP incumbents like Crunch, EōS, and Planet Fitness entrenched and expanding, all eyes will be on the auction to see if a new regional power emerges.
