Cult.fit acquires fitness chain Gold's Gym

On Monday, App-based health and fitness platform Cult.fit said, it has acquired the India business of international fitness chain Gold's Gym for an undisclosed sum.The company now aims to expand the Gold's Gym brand in key geographies such as Sri Lanka, Bangladesh, Maldives, Nepal, and Bhutan. Naresh Krishnaswamy, growth and marketing head, of Cult.fit after the acquisition said: "We aim to build immense value into the fitness ecosystem generating top-notch tech advancement, great business opportunities, and better returns for our partners in the long run”. Now a unicorn, Cult.fit, picked up a majority stake in F2 Fun & Fitness India Pvt Ltd, becoming the master franchise partner for Gold's Gym in India. Gold's Gym’s, Chief Operating Officer, Nikhil Kakkar said: "We have a mission to touch 200 clubs in 24 months. With this partnership, we can now leverage Cult.fit's strong technology, operations and demand generation capabilities to further empower and enable our high-quality supply to scale”.