Fitness retailer Johnson Fitness and Wellness is acquiring all Gym Source retail locations, including three in New Jersey.
Gym Source is a fitness equipment wholesaler with locations in Paramus, Princeton and Short Hills. The stores will be folded under the Johnson Fitness and Wellness brand, which has more than 460 stores worldwide.
“We’re thrilled to welcome the Gym Source retail team to the Johnson retail family,” said Bob Zande, president of Johnson Health Tech Retail Inc. “Gym Source has created an exceptional team and network of specialty fitness stores. We are very pleased to add these locations in the Northeast and Mid-Atlantic as it accelerates our growth and increases our level of customer service in the region.”
The acquisition of Gym Source locations increases the number of Johnson Fitness and Wellness retail stores to 100 in the U.S.
Gym Source will continue to operate as a national commercial fitness dealer serving customers across the hospitality, multifamily housing, corporate fitness, private clubs, medical and wellness industries.
“Gym Source has served customers in both the retail and commercial market segments for more than 75 years. With the sale of our retail stores, we are now able to focus on what has always been the largest division of the company, commercial fitness sales and service. Johnson Fitness and Wellness is both a retail market and industry leader and will be an excellent new owner for our stores,” said President Deborah McKeever.
Johnson Fitness and Wellness, headquartered in Cottage Grove, Wis., is acquiring all Gym Source stores. Beyond New Jersey, these stores are located in Southampton, N.Y.; Newton, Mass.; Danbury and Greenwich, Conn., Villanova, Pa.; and Falls Church, Va.
The financial terms of the acquisition were not disclosed.
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