Fitness Ventures Acquires Three Crunch Fitness Gyms in Portland, Plans $75 Million Expansion
Krissy Vann | Host, All Things Fitness and Wellness
Fitness Ventures has acquired three existing Crunch locations in the Portland, Oregon area and announced plans to invest $75 million to open 15 new clubs in the region over the coming years.
The company is aiming to expand Crunch's presence in Portland by introducing its newer, larger-format gyms, known as Crunch 3.0. These facilities typically range from 40,000 to 50,000 square feet and offer updated amenities and services compared to earlier models.
"The Portland market has been underserved for years when it comes to high quality fitness centers," said Brian Hibbard, CEO of Fitness Ventures. "We are excited to bring Portland a series of brand new 40,000 to 50,000 square foot Crunch 3.0 locations."
The three clubs acquired in the deal were originally developed under the smaller Crunch 1.0 model. Fitness Ventures is currently assessing whether to renovate and expand the existing sites or relocate them entirely. The objective, according to the company, is to align all three with the Crunch 3.0 standard.
The acquisition is part of a wider national growth strategy. Over the past two years, Fitness Ventures has opened dozens of new Crunch locations and entered multiple new U.S. markets, positioning itself as one of the fastest-growing operators in the Crunch Fitness franchise network.
No timeline has been provided for when the new Portland locations will open.
