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PRODUCT NEWS
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| Pure Gym reaches UK landmarks with 200 clubs and 1 million members |
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| 21 Feb 2018 . BY Tom Walker |
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| Humphrey Cobbold is Pure Gym chief executive |
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Budget club operator Pure Gym has reached 1 million members in the UK, following a 22 per cent increase in the number of members since the start of 2017.
The company opened 20 new gyms last year and is set to reach another milestone next month (March 2018) when it opens its 200th club, in Brighton.
Humphrey Cobbold, Pure Gym CEO, said: “This is a remarkable milestone for a company that is only eight years old.
“We are not only the largest gym company in the UK but we’re also operating at a scale never achieved in the history of UK gym provision.
“We remain committed to making gym membership a possibility for everyone across the country whatever their ability or aspiration and are excited by the opportunity we have.”
Pure Gym was acquired by Leonard Green & Partners in November 2017, after the US buyout firm agreed a deal believed to be worth around £600m with majority shareholder, US private equity firm CCMP Capital Advisors.
In 2016, Pure Gym abandoned an initial public offering (IPO), with the cancellation of the float plans being blamed on uncertainties caused by the UK’s vote to leave the European Union.
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