Health and wellness start-up Cult.fit has picked up a majority stake in F2 Fun & Fitness India, becoming the master franchise partner for Gold’s Gym in India. The companies did not disclose the value of the deal.
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In December, food delivery company Zomato invested $100 million in Cult.fit as part of a Series F fundraise of $150 million, making the health start-up a unicorn with a valuation of around $1.5 billion. Zomato has a 6.4 per cent stake in the company after the deal.
According to the company, Gold’s Gym is the second-largest player in fitness in India, with more than 140 outlets in over 90 cities. As part of this strategic partnership, Cult.fit will be investing in scaling the revenue of existing Gold’s Gym centres through top-of-the-line marketing efforts and facilitating centre expansion via franchisees in the coming years.
