JUPITER, Fla.--(BUSINESS WIRE)--Feb. 22, 2018--
Town Sports International Holdings, Inc. ("TSI” or the "Company")
(NASDAQ:CLUB) announced today that through its wholly-owned subsidiaries
it has entered into an asset purchase agreement to acquire substantially
all of the assets of the Total Woman Gym and Spa business (“Total
Woman”). Once consummated, this acquisition will add another
women-focused fitness brand to the Company’s growing fitness portfolio.
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The acquired assets of the California-based Total Woman business include
12 locations which TSI will continue to operate under the Total Woman
brand. The locations to be acquired are in Alameda, Glendale, Irvine,
Laguna Hills, Northridge, Placentia, San Jose, Studio City, Torrance,
Valencia, Westlake Village and Woodland Hills.
Upon closing, this acquisition will enhance and expand Total Woman’s
offerings for its members as TSI will introduce its robust digital
offering in addition to new tailor made training programs.
Founded in 1965 by visionaries Art and Adrienne Stone, Total Woman has
grown into a California mainstay. "The opportunity to expand into
California with a well-known brand was an easy decision," said Patrick
Walsh, TSI's Chief Executive Officer and Chairman of the Board.
About Town Sports International Holdings, Inc.:
Town Sports International Holdings, Inc. is a diversified holding
company with subsidiaries engaged in a number of business and investment
activities. The Company’s largest operating subsidiary has been involved
in the fitness industry since 1973 and has grown to become one of the
largest owners and operators of fitness clubs in the Northeast region of
the United States. TSI’s corporate structure provides flexibility to
make investments across a broad spectrum of industries in order to
create long-term value for shareholders.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180222006456/en/
Source: Town Sports International Holdings, Inc.
Town Sports International Holdings, Inc.
Investors:
917-765-9974
Investor.relations@town-sports.com
