Cannons and LA Fitness are in early-stage merger talks that could lead to the creation of a 415,000-member gym giant. Sunday Telegraph. Financial Times
Sources close to Cannons’ owners, the Royal Bank of Scotland and private equity house PPM Capital, cautioned that there were several other potential bidders in the race for the chain, which has been up for sale for almost a year.
It has 65 gyms and 165,000 members, while LA Fitness has 250,000 members and 88 gyms.
Other possible bidder could be trade buyers such as Virgin Active and Fitness First.