The operator and owner of New York Sports Clubs (NYSC), Town Sports International Holdings Inc. (TSI), has entered into an agreement to acquire Lucille Roberts Health Club businesses. The closing of the transaction is expected to involve 16 clubs that will be added to TSI’s portfolio in the Northeast and Mid-Atlantic regions of the United States. They will continue to use the Lucille Roberts name.
All 16 new locations are in the New York City metropolitan area (including Manhattan, Brooklyn, Queens, Bronx, New Jersey and Long Island). These are all areas where TSI is already well known.
According to Patrick Walsh, TSI’s chief executive officer, “this acquisition is a prime example of TSI’s targeted growth strategy.” He further states that “Lucille Roberts has a loyal membership base that loves the women’s only membership option. While the acquired locations will continue to operate as women’s only gyms, TSI will also offer an option for Lucille Roberts’ members to access all the clubs in the diverse TSI portfolio. This acquisition will allow those members to utilize the broad array of fitness options and convenient workout locations that are synonymous with New York Sports Clubs.”
“For more than 4 decades, Lucille Roberts has been providing women with an affordable first-rate fitness experience in a comfortable environment that they can call their own,” said Lucille Roberts co-founder, Bob Roberts. “TSI’s industry knowledge and strategic expertise make them the ideal company to preserve and foster the Lucille Roberts vision.”
Town Sports International Holdings Inc. believes this acquisition will strengthen and expand the offerings for Lucille Roberts’ members. TSI plans to basically keep all club employees.
