Through the acquisition, RSG Group expands its fitness portfolio to over 900 locations.
RSG Group GmbH, previously the McFIT Global Group, is a European franchisor and the owner of the McFIT, JOHN REED, and High5 brands. The experienced parent company has now acquired one of the most recognizable fitness brands in the world, with brand awareness of 96 per cent among gym-goers: Gold’s Gym.
In mid-May of this year, Gold’s Gym filed for bankruptcy after being hit hard by the worldwide economic shutdown as a result of COVID-19. Following extensive negotiations between TRT Holdings, Inc., the majority owner of the brand, and its creditors, it was announced that there would be a court-approved auction to transfer ownership of Gold’s Gym to the highest bidder.
At the conclusion of the auction on July 13, 2020, it was announced that RSG Group would be the purchaser of Gold’s Gym and all of its assets with the estimated final purchase price of $100m.
“Gold’s Gym is a fitness institution that had a major influence on the industry’s development. It was a huge source of inspiration when I was setting up my first McFIT studio in Würzburg, Germany back in 1997,” said Rainer Schaller, the RSG Group’s founder and CEO. “I am incredibly proud that, in partnership with their current leadership team, we will be able to breathe new life into this iconic brand under the umbrella of the RSG Group.”
Following the auction process, Gold’s Gym will emerge from bankruptcy with a total of 61 corporate-owned gyms, and more than 600 franchised locations across 29 countries. This includes South Africa, which the brand recently announced as its newest international market.
“The RSG Group, with nearly 25 years of owner-managed expertise in the fitness sector, lives and breathes fitness and that is reflected in everything they do and how they do it,” said Adam Zeitsaff, president and CEO of Gold’s Gym. “For us, this acquisition will open up brand-new opportunities to lead Gold’s Gym into a strong future together. My team and I are excited to partner with RSG and we look forward to much success for our team members, our members, and our global brand.”