U.S.-based 24 Hour Fitness has sold its California Fitness clubs, located throughout Asia, to The Ansa Group.
The sale involves all eighteen California Fitness clubs in Hong Kong, Singapore and China. Financial terms were not disclosed. California Fitness was acquired by 24 Hour Fitness in 1999.
"The sale of our Asia-based California Fitness clubs will enable 24 Hour Fitness to remain laser focused on our team members, members and clubs throughout the U.S.," said Carl Liebert, president and chief executive officer of 24 Hour Fitness. "While our California Fitness operations no longer align with our greater business objectives, we're proud of our contributions to the exercise and fitness industry in Asia."
The sale will enable 24 Hour Fitness to focus on U.S. operations, which was acquired by Forstmann Little & Co. in 2005.