Gold’s Gym, a decades-old fitness brand with roots in and a cult following, is allowing Eos Fitness to take over nearly all of its Southern California locations.
Brothers Angel and Willie Vanos, long-time Southern California gym franchisees, have sold more than 20 locations to Dallas-based Eos. Gold will retain ownership of the original Venice Beach Gold’s Gym, which opened in 1965 and is known to some as the “Mecca of Bodybuilding.”
Founder Joe Gold opened the Venice store with a focus on strength and conditioning, work ethic, and lifestyle. The gym also attracted bodybuilding greats such as Arnold Schwarzenegger and Lou Ferrigno.
The brand also has hundreds of franchised locations in the United States and around the world, including Italy and Mexico.
This move is not a rejection of California. This will allow the chain to open its doors to new franchisees in the region, the company said in a news release.
“Gold’s Gym has always been a leader in health and fitness, and this decision is a major step forward for our brand, franchisees and members,” co-chief executive officer Danny Wagoner said in a release. “We are pushing the brand into a new era while staying true to our heritage.”
Gold’s Gym Southern California said in an email to members that the move to sell “was not made lightly.”
The email stated that Rich Drengberg, CEO of Eōs Fitness, spent more than 10 years at Gold’s Gym early in his career.
Eōs Fitness operates more than 200 locations nationwide with the slogan “Better Gyms at Better Prices.” The acquisition of Gold’s Gym makes Southern California the largest market for Eos, with the brand expected to have 50 stores by the end of the year.
“This acquisition accelerates our expansion in a competitive real estate market, and we are especially grateful to Angel and Willie Vanos for their vision and dedication in building these gyms,” Dorenberg said in a written statement.
Eōs’ new locations include the Beverly Center, Hollywood, Long Beach and Santa Barbara. Eōs announced that the transition will take effect on October 29 and access to gyms will not be interrupted.
Gold’s Gym was acquired by fitness company RSG Group in 2020. Owning a 25,000-square-foot Gold’s Gym store costs between $1.7 million and $4.3 million, plus franchise fees.
