TATA Backed Cult.fit Acquires Gold's Gym India Business

Fitness center chain Cult.fit has announced acquiring a majority stake in F2 Fun & Fitness India, which owns the Indian franchise of international gym chain Gold's Gym. With this acquisition, Cult.fit will now operate the Indian chain of Gold's Gym. Cult.fit is a part of Cure.fit Healthcare, which recently disclosed a $1.5 billion value thanks to a Zomato investment.

With the acquisition of a majority stake, the Cult.fit becomes the master franchise partner for Gold's Gym in India. As part of this strategic partnership, Cult.fit will be investing in scaling the revenue of existing Gold's Gym centers through marketing endeavors and facilitating center expansion via franchisees in coming years. The announcement comes nearly two months after Cult.fit's parent company, Curefit, joined the unicorn club.

With this development, the Cult.fit will enable all Gold's Gym centers with its center-tech suite and a customer app. Cult.fit in a statement said that it will endeavor to continue scaling the business and further grow Gold's Gym into its network.

Gold's Gym is the second largest fitness chain in India and with more than 140 fitness outlets spread across 90 cities mostly in Tier 1, 2, and 3 towns. With this partnership, the Bangaluru based fitness startups Cult.fit will also execute its brand expansion across the south Asian Country such as Sri Lanka, Bangladesh, Maldives, Nepal, and Bhutan.