It has been confirmed that PureGym is the winning bidder in the auction for US operator, Blink Fitness, with a successful bid of $121 million.

With a portfolio of 67 sites in New York and New Jersey, this acquisition gives PureGym a significant growth platform in the US, where it is also seeking franchise partners under its PureFitness brand.

Humphrey Cobbold, CEO of PureGym commented: “The acquisition of Blink Fitness is transformational for PureGym in the US, a market we have been operating in since 2021. It gives our Group a meaningful presence in the country and a strong foothold in the attractive New York and New Jersey area.

“US expansion has been an important part of our growth plan which is why we actively participated in the Chapter 11 process and entered into an Asset Purchase Agreement with Blink Fitness. We have, over several months, spent a considerable amount of management time and resources getting to know the business and the management team and have developed an excellent understanding of both its prospects and the opportunity it represents.

“The American fitness market is the largest and most dynamic in the world. We are incredibly excited by the scale of opportunity and the chance to tailor and apply our proven model there.

“Through investment and upgrades, we plan to enhance the high quality fitness experience Blink Fitness members currently enjoy. We are looking forward to working with the Blink Fitness team and can’t wait to get going so we can give more people access to high quality, affordable fitness.”

PureGym is represented by Latham & Watkins, LLP as legal advisor, PJT Partners as investment banker, and RCS as real estate advisor.

The affordable operator now has around two million members and more than 600 gyms across six countries, in addition to 20 franchised sites in Saudi Arabia and UAE under the PureGym Arabia brand. It is actively franchising in the Middle East and looking for partners in other markets. It is jointly owned by Leonard Green & Partners, KKR and more than 100 members of the group’s management team.