CRUNCH FITNESS ACQUIRED

Asset firm TPG has acquired multi-national gym franchise Crunch Fitness and will assume control of the chain’s corporate-owned outlets, in addition to its global franchising business.

Jim Rowley, CEO of Crunch said the deal with TPG reflected the hard work of franchise partners and the executive team alike.

“The investment from TPG is a testament to Crunch’s distinct brand, great facilities, and strong management and club teams,” Rowley said. The fitness chain currently owns, operates and franchises more than 300 gyms in the US, Canada, Spain, with an emerging presence here in Australia.

TPG chief investment officer, Jonathan Coslet revealed the brand is actively pursuing further international franchise growth. “We’re excited to partner with the Crunch team as they look to continue their growth, including their global franchise network,” Coslet said.