Gold's Gym International Strikes Acquisition Deal for 3 Birmingham Gold's Gym Locations
Renowned fitness brand adds franchised Birmingham facilities to its growing portfolio of corporate-owned fitness centers
December 21, 2010 // Franchising.com // DALLAS – Gold's Gym International, Inc. today announced the acquisition of 3 Birmingham, AL area Gold's Gym's. Previously owned and operated by entrepreneur Stephen Dawahare, this marks a significant milestone for the Gold's Gym brand, currently celebrating its 45th anniversary.
As part of the sale process, Gold's Gym International (GGI) and Dawahare developed a strategy for a seamless ownership transition. Dawahare's collection of gyms have long been staples in the Birmingham community and will continue to operate without interruption.
"Stephen has been one of the most successful franchise owners in the Gold's Gym system. He has established a well-run group of Gold's Gym locations," said Jim Snow, president of Gold's Gym International. "We are thrilled to have the opportunity to work with such a strong management team and talented pool of employees, and look forward to enhancing the member experience with new customer service initiatives. This acquisition reflects the unwavering commitment of our ownership group, TRT Holdings to both GGI and the Gold's Gym brand."
In addition to Gold's Gym International, TRT Holdings also owns the famed luxury Omni Hotel Group. Consistently topping the J.D. Power and Associates "Highest in Guest Satisfaction Among Upscale Hotel Chains" survey, Omni Hotels has set the standard for customer service. That same approach can be seen in the Gold's Gym locations that TRT Holdings owns and operates, and is being shared throughout the Gold's Gym family.
"We felt strongly that GGI and TRT Holdings could take our Birmingham-area operations to the next level," said Dawahare. "They understood the important role our employees play in the lives of thousands of community members, and shared a similar perspective on the potential of the brand in this marketplace. While it's bittersweet to pass the torch to a new ownership group, I am excited about the future of Gold's Gym in the Birmingham area."
This is Gold's Gym International's second acquisition of a franchisee operation this year, and the brand continues to see more growth on the horizon. Additionally, Gold's Gym International has invested heavily in club enhancements with millions of dollars going towards renovations across its portfolio. The investments being made in the brand through club improvements, new gyms, franchise growth and acquisitions showcase the momentum behind Gold's Gym as it enters its 46th year in the industry it helped create.
About Gold's Gym
Established in Venice, Calif. in 1965, Gold's Gym is the largest full service gym chain in the world with more than 700 locations in 42 states and 30 countries. Gold's Gym offers the latest equipment and services, including group exercise, personal training, cardiovascular equipment, group cycle, Pilates and yoga. With nearly 3.5 million members worldwide, Gold's Gym helps all kinds of people achieve their individual potential through fitness. For more information please visit www.goldsgym.com or www.facebook.com/goldsgym.