Fitness Ventures LLC, One of Crunch Fitness’ fastest growing franchisees, announced today the acquisition of all 4 of the Louisville, KY Crunch Fitness locations. Crunch Dixie and Crunch Middletown are open and operating locations while Crunch Outer Loop and Crunch Fern Creek are currently under construction and set to be open by year end.
“Expanding into Louisville is particularly exciting for us”, stated Brian Hibbard, CEO of Fitness Ventures. “We own and operate locations throughout the U.S. with al lot of that concentration in the Midwest. Louisville fits extremely well into that strategy. Greg Tibbs, Mike Goodsell, and the entire Louisville team have done an amazing job building the Crunch brand in the market along with a strong culture, so we are excited to build on that momentum”.
The acquisition fast tracks Fitness Ventures already aggressive growth, with plans to open around 15 locations per year for the foreseeable future. “These 4 locations are just the start for the Kentucky market”, stated Hibbard. “We will have additional locations being announced in the coming months in Louisville as well as the surrounding markets such as Lexington, Bowling Green and Elizabethtown”.
“The Louisville market has been underserved for high value low-cost fitness options for quite some time. I believe that is why we have thrived so well here”, stated Tibbs. “We had acquisition interest from several great groups, ultimately, we chose Fitness Ventures as both our teams were very culturally aligned. After meeting with several people within their organization, it became apparent they had a team first mindset that very much mirrored ours. We were also drawn to their vision and growth strategy, and we wanted the Louisville team to be part of that.”
The Louisville clubs offer top-quality cardio equipment and strength training equipment, circuit training, a functional training area with multiple indoor turf areas, a dedicated group fitness studio, a dedicated ride studio, HydroMassage® beds, saunas, and high-end tanning. Members looking for assistance reaching their goals will have access to highly experienced Personal Trainers.
About Fitness Ventures, LLC
Founded in 2016 by Brian Hibbard, Fitness Ventures, LLC is one of the fastest growing franchisees within the Crunch Fitness system. The Company currently operates locations across the United States, with many more in development. With a unique operating and development strategy, and a keen focus on execution, Fitness Ventures operates some of the highest volume Crunch locations in the system and boasts industry leading financial returns.
Fitness Ventures was acquired by Prospect Hill Growth Partners, L.P., a private equity firm focused on operational value creation in middle-market growth companies, in 2020. The partnership with Prospect Hill and new access to institutional capital has allowed Fitness Ventures to seize on new opportunities at a faster pace, like this one.
About Crunch
Crunch is a gym that believes in making serious exercise fun by fusing fitness and entertainment and pioneering a philosophy of ‘No Judgments.’ Crunch serves a fitness community for all kinds of people, with all types of goals, exercising all different ways, working it out at the same place together. Today, we are renowned for creating one-of-a-kind group fitness classes and unique programming for our wildly diverse members. Headquartered in New York City, Crunch serves over 2.2 million members with over 400 gyms worldwide in 34 states and the District of Columbia, Australia, Canada, Costa Rica, Portugal, Puerto Rico, and Spain. Crunch is rapidly expanding across the U.S. and around the globe.
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