Gold's Gym to be Sold to TRT Holdings
Los Angeles-Gold's Gym International Inc., which was founded in Venice in 1965, is being sold to TRT Holdings Inc., the Texas-based owner of the Omni Hotel chain.
Florida-based private equity firm Brockway Moran & Partners, the former owner of Gold's Gym, did not disclose the amount TRT paid to acquire the brand. Brockway Moran acquired Gold's Gym in 1999, and undertook an expansion by acquiring some gyms and licensing the Gold's Gym name to others.
Gold's Gym operates 550 gyms in 23 countries. The transaction is expected to close within five weeks. -Los Angeles Business Journal