Town Sports to acquire Lucille Roberts Health Clubs businesses
Town Sports announced that it has entered into an agreement to acquire Lucille Roberts Health Clubs businesses. The closing of the transaction is subject to certain conditions. The parties expect the transaction to be closed within the next month. The acquisition will add 16 clubs to TSI's portfolio in the Northeast and Mid-Atlantic regions of the United States. The 16 locations will continue to operate under the Lucille Roberts brand. The newly acquired locations are all in the New York City metropolitan area - including Manhattan, Brooklyn, Queens, Bronx, Long Island and New Jersey - where TSI already has a substantial presence. The acquisition will both enhance and expand the offerings for Lucille Roberts' members. The company also plans to retain virtually all club employees. Terms of the transaction were not disclosed.