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Article: Crunch Fitness Emerges.(News)

Article from:
Mergers & Acquisitions Report
Article date:
September 7, 2009
Copyright

Byline: Kelly Holman

New Evolution Fitness Co. (NEFC) and Angelo, Gordon & Co. have received bankruptcy court approval for their joint acquisition of New York fitness chain Crunch Fitness.

The deal, announced on Monday by Crunch, follows the health club operator's prepackaged Chapter 11 filing in May. Its purchase is expected to be completed by mid-September.

Crunch, a health club company with more than 70,000 members and 19 clubs, will be managed by Jim Rowley, a partner at Lafayette, Calif.-based NEFC. He will serve as its chief executive and vice chairman.

Mark Mastrov, NEFC founder and chairman of Crunch, said upon its exit from ...

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