PE-backed GoodLife Fitness shows interest in former Target stores

Canadian fitness club chain GoodLife Fitness Centres Inc has expressed an interest in expanding into stores soon to be vacated by Target Corp. Target announced last week that it had decided to discontinue its operations in Canada. GoodLife founder and CEO David ‘Patch’ Patchell-Evans said the “spacious and convenient” Target locations fit the company’s goal of growing its national chain from over 350 clubs at present to as many as 1,000 clubs. Based in London, Ontario, GoodLife is backed by Canadian private equity firms Penfund and Manulife Capital, as well as other investors.

PRESS RELEASE

GoodLife Fitness grows to bring fitness to more Canadians

Canada’s largest fitness provider eyes Target locations for growth

LONDON, ON, Jan. 20, 2015 /CNW/ – GoodLife Fitness is taking giant strides in 2015 to give every Canadian the chance to live a fit and healthy life. By spring, Canada’s largest fitness provider will grow to over 350 clubs across Canada, with the hopes of reaching the 400 club mark before year-end.

In an effort to offer as many convenient and welcoming locations as possible, GoodLife Fitness has also expressed interest in expanding into many of the former Target stores across Canada – a move that would be a significant contributor toward the company’s goal of expanding to as many as 1000 clubs from coast-to-coast.

“We want to continue growing until every Canadian is able to benefit from using one of our clubs,” said David ‘Patch’ Patchell-Evans, GoodLife Fitness Founder & CEO. “The former Target locations provide spacious and convenient locations that would be an excellent space for people to achieve their fitness goals. When considering a business to take over some of the Target locations, GoodLife is a perfect partner because of our long-term success and our experience with this type of location. In 1999, we acquired 12 of the former Eaton’s stores, and at that time we were a much smaller company and solely based in Ontario, so we are definitely poised for this type of growth. We want our real estate and shopping centre partners to be healthy and successful too, so this would be a positive solution for all.”

GoodLife is positively impacting the lives of the one in 34 Canadians who are GoodLife Members, and is committed to changing lives outside the bricks and mortar of the clubs. Through workplace wellness programs, strategic collaborations with the traditional healthcare system and through significant financial investments in health research and care, GoodLife is making a tremendous impact on the health status of Canadians.

“It isn’t a coincidence that a health and fitness company is, financially, one of the healthiest companies in Canada,” said Patch. “We are a Canadian company with Canadian values. Every day we choose the right partners, right places, right programs and most importantly the right people to ensure we are dramatically impacting the health and wellness of Canadians.”

Any Target employees who are interested in joining the GoodLife Team are invited to apply at http://jobs.goodlifefitness.com. Whenever possible, GoodLife will prioritize meeting with former Target employees to determine if there is a fit to join the GoodLife Family.

With two strong club models – the full service experience model at GoodLife Fitness (Énergie Cardio in Quebec), and the low cost and high value model at Fit4Less by GoodLife (Éconofitness in Quebec) – GoodLife is helping to improve the health and fitness of Canadians every day. Visit www.goodlifefitness.com; www.fit4less.ca; www.energiecardio.com; or www.econofitness.ca for more information.

SOURCE GoodLife Fitness

For further information: Media Contact: Natalie Little-Rowe, Public Relations Manager, GoodLife Fitness, mediarelations@goodlifefitness.com, 1-800-790-9269 ext. 237; Real Estate Contact: We are interested in exploring diverse real estate opportunities across Canada., Philip Sorrell, Mandated Real Estate Broker, Primecore Realty Inc., Phone: 416-579-0450, Email: psorrell@sympatico.ca; Brian Dyck, Vice President, Real Estate, GoodLife Fitness, Phone: 416-988-3434, Email: brian.dyck@goodlifefitness.com

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