NEW YORK, July 14, 2017 /PRNewswire/ -- Town Sports
International Holdings Inc., ("TSI' or the "Company") (Nasdaq:
CLUB), the owner and operator of New York Sports Clubs (NYSC),
announced today that it has entered into an agreement to
acquire Lucille Roberts Health Clubs businesses. The Closing of the
transaction is subject to certain conditions. The parties expect
the transaction to be closed within the next month. The acquisition
will add 16 clubs to TSI's portfolio in the
Northeast and Mid-Atlantic regions of the United States.
The 16 locations will continue to operate under the Lucille
Roberts brand. The newly acquired locations are all in the
New York City metropolitan area — including Manhattan, Brooklyn, Queens,
Bronx, Long Island and New Jersey — where TSI already
has a substantial presence. The acquisition will both enhance
and expand the offerings for Lucille
Roberts' members. The Company also plans to retain
virtually all club employees.
"This acquisition is a prime example of TSI's targeted growth
strategy," said Patrick Walsh,
TSI's Chief Executive Officer. "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."
About Town Sports International Holdings, Inc.:
Town
Sports International Holdings, Inc. is one of the leading owners
and operators of fitness clubs in the Northeast and mid-Atlantic
regions of the United States and,
through its subsidiaries, operated 149 fitness clubs as of
March 31, 2017, comprising 101 New York Sports Clubs, 28
Boston Sports Clubs, 12 Washington Sports Clubs (one of which is
partly-owned), five Philadelphia Sports Clubs, and three clubs
located in Switzerland. These
clubs collectively served approximately 551,000 members as of
March 31, 2017. For more information on TSI, including the
Company's Form 10-Q for the quarterly period ended March 31,
2017,
visit http://investor.mysportsclubs.com/investor-relations
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SOURCE Town Sports International Holdings, Inc.