Crunch Franchise Announces Deal with Fitness Holdings & RLB Holdings to Open 42 Locations in New York, New Jersey, Massachusetts and Pennsylvania
NEW YORK - March 20, 2013 // PRNewswire // - Crunch, the health club chain best known for making serious fitness fun through unique programming and cutting-edge training, has inked a deal with Fitness Holdings LLC & RLB Holdings to open an additional 42 clubs across New York, New Jersey, Massachusetts and Pennsylvania.
"Our decision to partner with Crunch Franchise is the result of finding a strategic partner that shares our commitment to delivering industry-leading innovation to its customers. The Crunch brand and its history of pioneering new group fitness classes and state-of-the-art personal training programs, along with a great business model, make Crunch Franchise the ideal fitness organization to work with to achieve our company's growth strategy," says Steve Viscardi, Fitness Holding's CEO.
Crunch Franchise has grown exceptional quickly in all areas including units sold, selling over 200 franchises in just over two years, club openings and member growth. Crunch Franchise has established itself as one of the fastest growing and most competitive models in the industry and most recently, was named one of the "Hottest Franchises" for the second consecutive year by Entrepreneur Magazine and was awarded the prestigious FBR 50 Award by Franchise Business Review for outstanding franchisee satisfaction.
"I am thrilled to be partnering with Fitness Holdings and RLB Holdings as they are well established health club operators and business investors who are not only a pleasure to work with but are a perfect fit to drive growth as they expand the Crunch brand to new and exciting locations," says Ben Midgley, President, Crunch Franchise. I know that our new partners have fully embraced the Crunch philosophy of 'No Judgments' and will continue to bring the latest and greatest in fitness innovation to these new clubs," said Midgley.
Residents near these new locations will be able to enjoy Crunch's diverse and innovative group fitness classes, including, BodyWeb w/TRX®, BOSU® Bootcamp, Zumba, and tons of state of the art fitness equipment. In addition, Crunch's expert personal trainers are available to help members reach personal fitness and health goals.
For more information about Crunch franchising opportunities go to www.crunchfranchise.com.
Crunch is a gym that believes in making serious exercise fun by fusing fitness and entertainment and pioneering a philosophy of No Judgments. Headquartered in New York City, and co-owned by New Evolution Ventures (NeV) and private-equity firm Angelo Gordon, Crunch serves over 250,000 members with 61 gyms worldwide, including 34 franchise locations CT, FL, TX, WA, OR, CA, NJ, VA, NY and Australia, and is rapidly expanding across the U.S. and around the globe. Go to www.crunch.com for more information.
About New Evolution Ventures™ (NeV)
About New Evolution Ventures™ (NeV) Based in Northern California, New Evolution Ventures (NeV) is a private equity firm focused on the acquisition, development and operations management of fitness, health and wellness interests both domestically and internationally. Founded in 2008 by Mark Mastrov, Jim Rowley and Mike Feeney, the current team of NeV professionals is shaping the world of fitness, health and wellness one brand at a time. With a foundation representing over a century of business experience, NeV currently has operations and investments in more than 20 countries worldwide representing over 800+ facilities. For more information, visit www.nev.com.
About Angelo, Gordon & Co., L.P.
Angelo, Gordon & Co., L.P. is a privately held limited partnership founded in November 1988, and currently manages approximately $23 billion. The firm's investment focus centers on core competencies of real estate, credit, and private equity. Angelo, Gordon has over 200 employees (approximately half of whom are investment professionals) and is headquartered in New York, with associated offices in Chicago, Los Angeles, Washington D.C., London, Hong Kong, Seoul, Shanghai, Tokyo, and Sydney. For more information, visit www.angelogordon.com.