123 Fit, a Health Club Franchisor, Has Been Acquired By Diversified Health & Fitness, Inc. of Ft. Lauderdale, Florida
April 9, 2009
Diversified Health & Fitness, Inc., chaired by fitness industry pioneer, Roger Wittenberns, announced today that it has closed on its acquisition of 123 Fit, a coed health club franchisor with locations nationwide. 123 Fit was created by Quizno’s founder Rick Schaden who is leaving the health club business to take the reins of his food service company.
The acquisition increases Diversified’s holdings by 21 health club franchise contracts, giving the company a broader presence in the United States. Diversified’s current portfolio of 228 clubs nationally and internationally will be increased to 249 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.
“I have every confidence that Diversified will bring support and health club expertise to our family of 123 Fit franchisees” said Rick Schaden, CEO of 123 Fit.
Diversified Chief Executive Officer, Roger Wittenberns, said “we are pleased to be taking in a strong chain developed by franchise industry experts. The 123 Fit acquisition will add yet another dimension to our portfolio and increase our share of the coed fitness market.”
Diversified Health and Fitness, Inc. is a franchise holding company for multiple fitness franchise concepts. The company was founded in 2007 and is the brainchild of thirty-six year industry expert Roger Wittenberns.
For more information about this release or to schedule an interview, please contact Andrew Barnett at 800-988-4712 or by e-mail at Andrew@diversifiedhf.com
Wednesday, April 22, 2009
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