The Gym Group acquires 18 gyms from Lifestyle Fitness
The Gym Group (TGG) has announced that it has acquired 18 gyms from Lifestyle Fitness for £20.5m. TGG is the second largest business in the low cost gym market with 98 sites. The 18 sites it has acquired are mainly based in the Midlands and North of England, and 10 of these will be immediately converted to its The Gym brand. Each conversion is expected to cost £450,000, while the eight remaining sites will receive £110,000 of initial investment with the potential to convert later down the line.