American Bodyworks, Inc., a health club franchisor, has been acquired by a subsidiary ofDiversified Health & Fitness, Inc. of Ft. Lauderdale, Florida
Diversified Health & Fitness, Inc., chaired by fitness industry pioneer, Roger Wittenberns,announced today that its subsidiary has closed on the acquisition of the assets of American Bodyworks, Inc. a coed health club franchisor with twenty-two locations. American Bodyworks is heavily concentrated in the Southeast United States with offices located in Marietta, Georgia.
The acquisition increases Diversified Health and Fitness's holdings by twenty-two health club franchise contracts with nine more in various phases of development, giving the company a broader presence in the coed market. Diversified Health and Fitness's current portfolio of clubs nationally and internationally will expand to more than 200 clubs.
The transaction was structured as an asset purchase and included franchise agreements, FDD registrations, area developer agreements, manuals, trade names and other intellectual property.
"Diversified Health and Fitness is a great match for us in terms of an acquisition partner. The move will bring together a portfolio of large, coed clubs built on a great concept with the operational expertise of a team that has developed and sold over 1000 clubs nationwide," said Robert Parrish, President of American Bodyworks.
Diversified Health and Fitness Chief Executive Officer, Roger Wittenberns, said "the American Bodyworks brand is solid. The 10,000 square foot plus, coed model is a concept that allows for stability, growth, and consistent cash flow. We commend the founders of American Bodyworkson their success in our industry and we look forward to taking their concept to the next level."
Diversified Health and Fitness, Inc. is a franchise holding company for multiple fitness franchise concepts. The company was founded in 2007 and is the creation of thirty-six year industry expert Roger Wittenberns.