Fitness Holdings Northeast Acquires Crunch Paramus
Posted: October 30, 2019 in Chains
GREENWICH, CT – Fitness Holdings Northeast, LLC (“Fitness Holdings”), one of the leading franchise groups in the Crunch Fitness network, has announced its acquisition of Crunch Paramus, in Paramus, New Jersey. The acquisition closed on October 1, 2019 and raises the ownership group’s club count to 22, serving more than 100,000 members.
“We are thrilled about acquiring another one of the top-performing Crunch clubs, extending our portfolio, and implementing our 50-club growth strategy,” said Bob Cooke, CEO of Fitness Holdings. “Our growth approach of developing multiple channels simultaneously has successfully kept us on schedule to achieve our two-year goal. Our team’s strengths of operations and integration provide us a strategic advantage when entering and completing an acquisition. We are fully committed and positioned to capture more market share through acquisitions as well as traditional organic development.”
“It takes a unique talent to analyze, secure, and execute acquisitions successfully into the day-to-day operations of an organization. With now 10 clubs acquired, and more on the way, our management team continues to impress us with this organized skillset,” says Munir Karimi, Board Member of Fitness Holdings and CEO of Synergy Capital Investments. “We are excited to welcome new staff and members into our family and continue our commitment to providing a great Crunch experience.”