Budget fitness chain Pure Gym is shaking off its £300m failed merger with Gym Group by pushing ahead with ambitious expansion plans and hunting for smaller acquisitions.
Founder Peter Roberts said yesterday that it expected to grow from 70 clubs to 90 by the end of the year, as well as securing its first two acquisitions overseas, in Europe.
Speaking from overseas, Jones told City A.M. that the group had the financial backing of its private equity owners CCMP Capital Advisors to pursue growth abroad and that it was looking at both “mature” and less developed markets, from central and eastern Europe.
He said that growth in the UK would focus primarily on the south east, where it had fewer clubs compared with its presence in the Midlands and the north.
It will open its biggest gym next month in Hammersmith and is also on hunt for sites in the City.