The Bay Club Company, San Francisco, announced Monday it has acquired the Manhattan Country Club (MCC), Manhattan Beach, California, for $73 million.
“We continually seek out strategic opportunities that add value and upgrade our membership experience,” Bay Club President and CEO Matthew Stevens said in a media release. “Manhattan Country Club’s state-of-the-art amenities and offerings perfectly complement those found at our swim and tennis clubs, sports resorts, and golf and country clubs.”
The MCC acquisition is part of The Bay Club Company's initiative to expand into other California markets south of San Francisco, the company said. Since 2015, this has included the acquisition of 11 Spectrum Athletic Clubs in the Los Angeles area, as well as forays into San Diego and San Jose.
With the addition of the MCC—located at 1330 Parkview Ave., Manhattan Beach—The Bay Club Company now operates 23 locations across California.
The MCC has undergone several expansions in recent years, according to the release, such as a 6,000-square-foot fitness space, 18 tennis courts and a 25-meter outdoor pool. Other amenities include squash and racquetball courts, the Poolside Bar + Grill, the Atrium + Terrace restaurant, and The Bar, which serves coffee, tea and alcoholic beverages.
“We look forward to bringing the best the Bay Club has to offer to this renowned and respected country club and member community,” company COO Kevin Klipfel said in the release. “We are targeting opportunities for current members of MCC to receive access to our collection of clubs in Los Angeles, further enhancing the value of their current membership with access to our industry-leading fitness programs and services.”
The Bay Club Company, now in its 40th year, ranked No. 8 on Club Industry's 2016 Top 100 Clubs list. Its 2015 revenue was $219.33 million, an increase of 35 percent over the previous year.