Gold’s Health club, a decades-old health model with a cult following and roots in Venice Seashore, is permitting virtually all of its Southern California retailers to be taken over by Eōs Health.
The gymnasium’s long-time SoCal franchisees, brothers Angel and Willy Banos, offered greater than 20 areas to Dallas-based Eōs. Gold’s will retain possession of the unique Venice Seashore Gold’s Health club, which opened in 1965 and is understood to some as “the mecca of bodybuilding.”
Founder Joe Gold opened the Venice location with a deal with energy and conditioning, work ethic and life-style. The gymnasium has attracted bodybuilding greats equivalent to Arnold Schwarzenegger and Lou Ferrigno.
The model has a whole lot of different franchised areas throughout the U.S. and globally, together with in Italy and Mexico.
The transfer isn’t a rejection of California. It permits the chain to confide in new franchisees within the area, the corporate mentioned in a information launch.
“Gold’s Health club has all the time been a frontrunner in well being and health, and this choice marks an enormous step ahead for the model, our franchisees and our members,” mentioned co-chief government Danny Waggoner within the launch. “We’re pushing the model into a brand new period whereas remaining true to our heritage.”
In an e-mail despatched to members, Gold’s Health club SoCal mentioned the transfer to promote “wasn’t a choice we made calmly,” the WeHo Occasions reported.
The e-mail famous that Eōs Health chief government Wealthy Drengberg spent greater than a decade with Gold’s Health club earlier in his profession.
Eōs Health operates greater than 200 areas throughout the nation below the slogan “Higher Health club. Higher worth.” The Gold’s Health club acquisition will make Southern California the most important marketplace for Eōs, the place the model plans to have 50 areas by the top of the yr.
“Whereas this acquisition accelerates our enlargement in a extremely aggressive actual property market, we’re particularly grateful to Angel and Willy Banos for his or her imaginative and prescient and diligence in constructing these gyms,” Drengberg mentioned in a firm launch.
The brand new Eōs areas will embrace Beverly Middle, Hollywood, Lengthy Seashore and Santa Barbara. Eōs introduced in an e-mail to members that the transition took impact Oct. 29 and wouldn’t interrupt gymnasium entry.
Gold’s Health club was acquired by health firm RSG Group in 2020. It prices between $1.7 million and $4.3 million plus a franchise price to personal a 25,000 square-foot Gold’s location.
