(Irvine, CA/ St. Petersburg, FL) July 2, 2012 — On July 30, 2012 LA Fitness and Lifestyle Family Fitness announced that they have completed their transaction relating to LA Fitness’ purchase of the assets of 32 of the 33 Lifestyle Family Fitness clubs in Florida. The parties hope to come to terms on the final club, located at 1510 West Swann Avenue in Tampa, in the near future. Since their initial announcement on June 14, both parties have been working to complete the deal and prepare for the transition of the existing Lifestyle Family Fitness member base and staff.
LA Fitness will be honoring all of the active membership agreements that it purchased from Lifestyle Family Fitness. All active Lifestyle Family Fitness multi-club memberships will be honored at their current rate, and these multi-club members will have access to all Lifestyle Family Fitness locations acquired by LA Fitness. Similarly, all active single club members will be honored at their current rate with the same access they have now to the Lifestyle Family Fitness location where they joined. Lifestyle Family Fitness is closing its 31,000 square foot location at 2349 Vanderbilt Beach Road in Naples as of July 9th, and those members will be relocated to the 50,000 square foot LA Fitness club located nearby at 871 Vanderbilt Beach Road. These relocated members will have use of certain additional amenities at the LA Fitness club, such as a pool and basketball court, at no additional charge.
LA Fitness has been meeting with all interested Lifestyle Family Fitness employees to discuss employment opportunities. The parties are pleased to announce that many Lifestyle Family Fitness’ employees have accepted positions with LA Fitness, including Senior Vice President Frank Palmeri, Regional Vice President Michael Chaffin, and District Manager Troy Nealey.
Per Wikipedia, LA Fitness was founded by Chin Yol Yi and Lewis Welsh in 1984 with one location in Los Angeles, California. LA Fitness remains a privately owned company, with major ownership interests held by private equity firms Seidler Equity Partners,CIVC Partners, and Madison Dearborn Partners.
About LA Fitness:
Founded in 1984, LA Fitness is one of the fastest growing sports club chains in the U.S. and presently has over 500 locations in 22 states and Canada. LA Fitness’ mission is to help as many people as possible achieve the benefits of a healthy lifestyle by creating a nationwide network of sports clubs, offering its members the widest range of amenities and the friendliest service at an affordable price. To learn more about LA Fitness, visit www.lafitness.com or for the club nearest you, call (800) LA FITNESS.
Sources: Wikipedia, LA Fitness
Graphic credit to: LA Fitness