O2 Fitness, Raleigh, NC, has doubled in size to 24 clubs after the acquisition of the 12-club East Shore Athletic Club chain in the Charleston, SC, area, the company announced Tuesday. Terms of the deal were not disclosed.
O2 Fitness plans to invest $1 million throughout the remainder of the year for upgrades and improvements to the new clubs it acquired as well as its clubs in North Carolina.
"We believe our expansion into a brand new market and commitment to invest $1 million in improving the user experience across our growing footprint really speaks to our continued commitment to being the absolute leader in every market in which we operate," Michael Olander Jr., CEO of O2 Fitness Clubs, said in a statement. “We will continue to aggressively identify and pursue more growth opportunities like this in the future.”
O2 Fitness, founded in 2002, acquired three new clubs in the Raleigh area in June and will open a new club in Wilmington, NC, later this year. The company was recently named to the Inc. 5,000 list for the fourth consecutive year.
"We look forward to helping our current and new members reach and exceed their health and fitness goals through the use of all of our upgraded facilities," Olander said.