M&A M&A
Cult.fit acquires Gold's Gym India biz
Bengaluru-based fitness centre chain Cult.fit has acquired a majority stake in Mumbai-based F2 Fun & Fitness, thereby becoming the master franchise partner for Gold's Gym in India.
Gold's Gym is the second largest fitness chain in India operating more than 140 centres across 90 cities. Cult.fit will invest in increasing revenues from existing Gold's Gym centres, and facilitating centre expansion via franchisees in the coming years. Cult.fit will also look to expand the US gym brand across Sri Lanka, Bangladesh, the Maldives, Nepal and Bhutan.
Company website ↗ (opens in a new tab)
From the Venture Intelligence PE-VC Deal Database: Cult.fit is a part of Cure.fit Healthcare, which between Jul-16 and Nov-21 had raised over USD 500 million from investors including Zomato, IIFL VC, Accel India, Temasek, Epiq Capital, Unilever Ventures, Kris Gopalakrishnan, InnoVen Capital, Ascent Capital, Accel India, Chiratae Ventures, Kalaari Capital and Others.