EoS Fitness Acquires Gold’s Gym Clubs in Southern California
In an industry-changing deal, a 37-year Gold’s Gym stronghold in Southern California is changing hands, giving EoS a dominant position in one of fitness’ most coveted markets
High-value, low-price (HVLP) gym chain EoS Fitness has acquired 23 Gold’s Gym locations in Southern California, a move that instantly makes SoCal the largest EoS market and expands its footprint by nearly 20%, Athletech News has learned.
While EoS publicly describes the deal only as involving a “legendary Southern California franchise,” ATN has independently confirmed the acquired gyms are currently operating under the Gold’s Gym SoCal banner, the region’s leading Gold’s Gym franchise group.
The deal applies exclusively to the Southern California–owned locations, not the broader Gold’s Gym portfolio. It remains unclear what role corporate parent RSG Group played in the transaction.
The acquisition brings the amenity-rich EoS into high-profile communities, including Beverly Center, Hollywood, Long Beach and Santa Barbara.
Just months ago, Gold’s Gym SoCal opened its Beverly Center location, the iconic mall’s first fitness club, as part of modernization efforts to elevate the member experience. Earlier this spring, the group also announced a major revamp of its original North Hollywood gym.
While most EoS clubs exist in the HVLP value segment, the chain has layered in a set of “Lux” gyms in major metropolitan areas, offering upgraded amenities and all-club access for members. It’s not yet clear if any of the recently upgraded Gold’s Gym SoCal clubs will be categorized under EoS’ Lux tier.
The move also advances EoS’ target to reach 250 gyms by 2030 as HVLP brands tighten their grip on the value-driven U.S. fitness market, where competition is only growing. However, unlike many of its HVLP competitors, the fitness chain doesn’t franchise.
It’s also no stranger to Southern California. EoS first entered the market in 2015 with five locations and, with this deal, now has 46 gyms in the region. Looking ahead, EoS plans to reach 50 locations in the area by year’s end.
“While this acquisition accelerates our expansion in a highly competitive real estate market, we are especially grateful to Angel and Willy Banos, the founders of this Southern California franchise, for their vision and diligence in building these gyms and maintaining such high standards of operation over the last three decades,” EoS Fitness CEO Rich Drengberg said. “It’s this foundation that is one of the ways we can extend the premium fitness experience EoS Fitness is known for to a broader audience while enhancing access for existing members.”
As EoS notes, Drengberg played an “integral role” in the early growth of the group behind these Southern California locations, serving as vice president of marketing and sales for 15 years before leaving to launch EoS Fitness in 2015.
For the Banos brothers, the sale marks the close of a long chapter. Angel Banos, CEO of the Gold’s Gym SoCal group, said the pair is reflecting on nearly four decades of building and evolving the business, and feels a deep sense of pride.
“We are honored by the progress we achieved, the community we have built and the meaningful contributions made to our members’ health and well-being,” Banos said. “Entrusting our legacy to EoS Fitness, a company that has already forged an impressive path in our industry with its highly accessible, quality-driven gyms, ensures our vision and impact continue to flourish across Southern California and beyond.”
The acquisition follows a stretch of rapid growth and investment for EoS, which earlier this year was acquired by TSG Consumer Partners in a deal reportedly valued at more than $1 billion.
The HVLP brand also received renewed backing from Performance Equity Management (PEM) this summer and is rolling out EGYM’s Genius technology across its clubs, making it the first large U.S. gym operator to deploy the AI-driven training platform. In Q3, the brand opened six new gyms, signed eight more leases and reinvested more than $4 million back into existing gyms.
EoS plans to retain all of the franchise group’s gym-level teams, adding more than 1,000 employees to its group.