Cult.fit, helmed by Mukesh Bansal, has acquired Gold’s Gym India
- ByStartupStory | February 15, 2022
Cult.fit, a fitness center network, has acquired a controlling share in F2 Fun & Fitness, making it the master franchise partner for Gold’s Gym in India. Cult.fit is a subsidiary of Cure.fit Healthcare, which recently disclosed a $1.5 billion value thanks to a Zomato investment.
Cult.fit said in a news release that it will invest in growing income from current Gold’s Gym locations and aiding franchisee development in the future years. According to the statement, Gold’s Gym is India’s second-biggest fitness chain, with more than 140 locations in more than 90 cities.
Cure.fit, one of the most acquisitive businesses, purchased Fitness First’s Indian business in May 2018.
Cult.fit’s technology and consumer app will be available at all Gold’s Gym locations. In addition, the Bengaluru-based business plans to grow the US gym branding across Sri Lanka, Bangladesh, the Maldives, Nepal, and Bhutan.
Cult.fit, founded by Mukesh Bansal and Ankit Nagori in 2016, offers fitness-related services through a combination of online and physical channels. Offline group sessions at Cult.fit locations, as well as many other gyms or equipment-based workouts at partner gyms and fitness centers around the country, are available, as well as online training.
While Bansal is now in charge of Tata Digital, Nagori is now the CEO of Curefoods, a cloud-kitchen platform that just secured $62 million in funding.
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