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Cult.fit acquires India biz of US fitness chain
Mint Mumbai
|January 03, 2024
It bought the remainder 40% stake in Gold’s Gym operator for 790-100 cr
Tata Digital-backed health and fitness portal Cult.fit has completed the acquisition of American fitness chain Gold's Gym's India business, at least two people in the know told VCCircle.
Having 60% ownership, Cult.fit (formerly Curefit) has picked up the remaining 40% stake in F2 Fun & Fitness Pvt. Ltd, the master franchise partner for Gold's Gym in India. According to the people cited above, it has acquired the stake for ₹90-100 crore ($10.8-12 million).
In early 2022, Cult.fit had bought 60% in F2 Fun and Fitness for ₹300 crore.
A Cult.fit spokesperson was not immediately available for comment, while email queries to Gold's Gym remained unanswered till press time.
Cette histoire est tirée de l'édition January 03, 2024 de Mint Mumbai.
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