Why your local Gold’s Gym may be getting a new name

Gold's Gym, a long-standing fitness brand with a cult following and roots in… Venice Beachallows Eōs Fitness to transfer nearly all of its Southern California locations.

Brothers Angel and Willie Banos, longtime SoCal franchisees, have sold more than 20 locations to Dallas-based Eōs. Gold's will retain ownership of the original Venice Beach Gold's Gym, which opened in 1965 and is known to some as the “Mecca of Bodybuilding.”

Founder Joe Gold opened the Venice location with a focus on strength training, work ethic and lifestyle. The gym has attracted bodybuilding greats such as Arnold Schwarzenegger and Lou Ferrigno.

The brand has hundreds of other franchised stores in the United States and around the world, including in Italy and Mexico.

The move is not a move away from California. This will allow the chain to open to new franchisees in the region, the company said in a press release.

“Gold's Gym has always been a leader in health and fitness, and this decision marks a huge step forward for the brand, our franchisees and our members,” Co-CEO Danny Wagoner said in a press release. “We are moving the brand into a new era while staying true to our heritage.”

An email sent to Gold's Gym SoCal members said the decision to sell “was not a decision we made lightly.” The WeHo Times reports..

The email noted that Eōs Fitness CEO Rich Drenberg worked at Gold's Gym for more than a decade early in his career.

Eōs Fitness operates more than 200 locations across the country under the slogan “The Best Gym. Best price.” The acquisition of Gold's Gym will make Southern California Eōs' largest market, where the brand plans to open 50 stores by the end of the year.

“While this acquisition accelerates our expansion in a highly competitive real estate market, we are especially grateful to Angel and Willie Banos for their vision and diligence in building these gyms,” Drenberg said in a release. company release.

New EOS locations will include Beverly Center, Hollywood, Long Beach and Santa Barbara. Eos announced in email to participants that the transition took effect on October 29 and will not affect access to the gym.

Gold's Gym was acquired by fitness company RSG Group in 2020. Owning a 25,000-square-foot Gold location costs between $1.7 million and $4.3 million plus franchise fees.