Planet Fitness Enters New Bids for Blink Fitness Amid Bankruptcy Sale
Krissy Vann | Host, All Things Fitness and Wellness
Planet Fitness is attempting to acquire Blink Fitness following last week’s bankruptcy auction, where U.K.-based PureGym emerged as the winning bidder with a $121 million offer. Blink Fitness, which is owned by Equinox Group, filed for bankruptcy in August 2024 after struggling to gain traction in the budget gym market.
The auction results initially awarded PureGym the assets of Blink Fitness, including its 60 gym locations across New York and New Jersey. This acquisition would bolster PureGym’s presence in the U.S. market, which it first entered in 2021.
However, in a last-minute move on November 1, Planet Fitness submitted two competing bids. According to sources, Planet Fitness, which operates over 2,000 clubs nationwide, proposed $141 million if no regulatory filings were necessary and $153 million if premerger filings were required. Reports suggest that Planet Fitness had previously offered a higher bid than PureGym but was reportedly sidelined due to potential antitrust concerns.
The situation remains fluid, with a bankruptcy court in Delaware currently reviewing these new bids from Planet Fitness. As of now, PureGym’s bid stands, but Planet Fitness's latest offers indicate a strong interest in expanding its footprint in the budget fitness market, especially in the competitive New York and New Jersey regions.
The final decision on whether Planet Fitness’s higher bids will be accepted is yet to be determined, pending the court’s assessment of regulatory implications and other considerations.
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