PureGym has gained a foothold in the Northeast and will rebrand nearly 70 Blink Fitess sites under its banner in 2025
Leading U.K. gym operator PureGym has finalized its acquisition of Blink Fitness, completing a $121 million deal that will see 67 New York, New Jersey and Pennsylvania-area Blink Fitness gyms rebranded under the PureGym banner in 2025.
PureGym edged out high-value, low-price gym giant Planet Fitness, which had submitted a last-minute bid for the Equinox-owned Blink Fitness and is now reportedly considering a franchising model following the acquisition.
The transaction also ushers in a leadership change, with Clive Chesser stepping in as CEO and former chief Humphrey Cobbold transitioning to chair. Cobbold, who served as CEO of PureGym since 2015, told HCM that his successor has already gone full throttle in leading the fitness gym brand.
“I had this vision of a steady, straightforward handover with Clive and grand ideas about getting some professional help in to make sure we get it exactly right, and then this thing blew up in the U.S., and the well-laid plans went in the bin, and Clive started work about two weeks before we actually started paying him,” Cobbold told the publication.
He also commented on the unique nature of the fitness sector, telling HCM, “The collaboration that goes on in this industry is somehow managed alongside pretty intense competition. I think the industry still has huge potential to continue to grow and develop.”
The deal gives PureGym a strong foothold in the U.S. in the burgeoning cost-conscious gym space, solidying its intentions to expand in the U.S. and compete with brands such as Planet Fitness and Crunch Fitness. The fitness operator is no stranger to the States — PureGym already has three locations in the Washington, D.C., metropolitan area under the Pure Fitness label.
Blink Fitness had filed for bankruptcy over the summer, although it had indicated its revenue has increased by nearly 40% over the last two years. Last month, Blink Fitness president and CEO Guy Harkless noted that the gym brand is pleased with PureGym and is eager to move forward with new owners who will deliver on its mission to “democratize fitness for all.“