International Fitness Holdings (IFH), Calgary, Alberta, Canada, is acquiring the assets of World Health Edmonton, Fresh Fit Foods and Tru Ride Cycle Studio, according to an announcement from IFH. No purchase price was disclosed.
IFH owns World Health Calgary, which shares the same brand name as World Health Edmonton even though two separate companies owned each brand. World Health Edmonton had been owned by a group of Edmonton investors led by Franvest Capital Partners, which purchased the company in 2012.
IFH also owns Spa Lady (Edmonton and Calgary) and Bankers Hall Club. With the purchase of the eight World Health Edmonton locations, IFH will now own 24 Alberta fitness clubs.However, after the purchase was announced, the company shared that it would close one of the Edmonton locations because the lease was terminated by the landlord, according to an article in the Edmonton Journal. In March the company had closed another location due to a dispute with the landlord, according to the article.
“We are doubling down on Alberta,” David Brodmann, president of World Health Calgary, said in a media release about the acquisition. “Our acquisition of World Health Edmonton (WHE), strengthens our fitness offering immediately and positions us to better compete against national and international competition. We are partly owned by our management team, most of whom have built their careers inside the company, and sponsored by TriWest Capital Partners, an Alberta-based private equity firm.”
IFH’s clubs vary in their services and amenities, but the company often renovates clubs and adds premium offerings to provide greater prestige, convenience and value to members compared to competing national and international fitness brands, according to the media release.
This purchase adds Fresh Fit Foods to the company’s mix. Fresh Fit Foods offers fresh, healthy, ready-to-eat meals at all WHE locations. Tru Ride Cycle Studio is Edmonton’s first indoor boutique cycle studio and offers members an immersive cycling experience. In the future, the company plans to expand these offerings to other locations.