Blast Fitness Acquisition, LLC announced today that it has entered into a definitive asset purchase agreement with Bally Total Fitness Holding Corporation, and various affiliates, pursuant to which Blast Fitness and certain of its subsidiaries will buy 39 fitness clubs for consideration including the assumption of certain liabilities and cash.
Blast Fitness is one of the fastest growing health club operators in the United States, bringing their $10/month health clubs to markets across the country. Blast Fitness offers Group Exercise Classes, Women Only Area, Babysitting, Tanning, Personal Training and Bring a Friend Free For Life!
With this transaction Blast Fitness is excited to bring their family friendly health clubs to the following local markets: Boston, MA; Buffalo, NY; Charlotte, NC; Fresno, CA; Milwaukee, WI; Providence, RI; St. Louis, MO; Dallas, San Antonio and Houston, TX; and Connecticut. Blast Fitness is delighted to honor all Bally memberships associated with these markets and transferred members will enjoy reciprocal membership privileges at the remaining fitness clubs owned by Bally in other markets.
The transaction is subject to various closing conditions. While Blast Fitness expects that the transaction will be completed by May 1, 2012, there can be no assurance as to when, or whether, the transaction will be completed.
Goodwin Proctor, LLP provided Blast Fitness with legal advice.