RSG Group Acquire Gold Gym for $100 Million
BERLIN, July 14, 2020-- RSG Group GmbH was selected as the winning bidder in a court-approved auction process held on July 13, 2020, and is set to acquire the most well-known and iconic gym chain in the world, Gold's Gym.
With this acquisition, the RSG Group, which has mainly been active in Europe up to now, will become a global leader in fitness with over 900 locations and will be represented on six continents.
Established in 1965 in Venice, California, Gold's Gym hit hard by the economic shutdown due to the COVID-19 pandemic, filed for bankruptcy under Chapter 11 on May 4, 2020, in an effort to facilitate the financial restructuring of the company.
In mid-May, as part of the initial bankruptcy filing, Gold's Gym announced its plan to emerge from bankruptcy quickly through a pre...