Equinox buys Sports Club/LA and Reebok Sports Club/NY
The operator boosts its expansion by adding further premium fitness facilities to its portfolio.
Equinox announced plans to acquire the Sports Club/LA properties as well as the Reebok Sports Club/NY location from affiliates of Millennium Partners for USD 110 million - the second-biggest takeover by Equinox. With the six newly acquired properties, Equinox now operates 73 total clubs globally, located in 10 major urban U.S. markets, plus London and Toronto.
Equinox will take immediate operational control of the six properties and will begin work to transition the clubs to the Equinox brand. "This acquisition is a testament to the continued expansion of the Equinox brand as a global leader in luxury health and fitness and the growing demand for our unique offering," says Harvey Spevak, CEO of Equinox. "The acquisition of Sports Club/LA and the Reebok Sports Club/NY locations not only expands our geographical footprint, but also adds six desirable clubs to an existing collection of trophy properties."
Since its inception in 1991, Equinox continuously extended its portfolio and offering in order to cement its position in the health and fitness market. Already in 2008, the operator acquired four high-end Sports Club/LA properties in different regions of the USA from their founding company Sports Club Company for USD 130 million. In addition to the Equinox clubs, the company introduced the first American outpost of the Asian enterprise Pure Yoga in the same year. In 2011, the company took over SoulCycle, a major cycling boutique operator with 29 locations in the USA. Furthermore, the company introduced Blink Fitness, a new brand of budget gyms in the New York area.