Busy Body builds muscle with purchase of L.A. Gym Equipment.FHI FHI Family Health International FHI Fuji Heavy Industries Ltd FHI Food for the Hungry International FHI Florida Hydrogen Initiative, Inc. (Tallahassee, Florida) Inc., the Long Beach-based company behind the exercise retailer Busy Body Home Fitness, has pumped up its assets with the purchase of competitor L.A. Gym Equipment. The acquisition will add 13 L.A. Gym Equipment locations in the region to Busy Body's 62 stores in six states, including 14 in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, . The purchase price was not disclosed. "L.A. Gym has always been a very well run organization, which is why it was enticing to us as investors," Kenton Van Harten, president of FHI, said in a statement. "Our plan is to change very little because what they were doing is obviously working." The L.A. Gym Equipment chain will retain its name. Launched in 1988 by Ran Radzewsky, Eli Ner-Goan and Ziv Barzily who met while backpacking South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , the Arleta-based privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. generated $22 million in revenue in 2002. Both L.A. Gym and Busy Body stores sell treadmills, elliptical el·lip·tic or el·lip·ti·cal adj. 1. Of, relating to, or having the shape of an ellipse. 2. Containing or characterized by ellipsis. 3. a. machines, weights and other fitness equipment. Prices for the stores' treadmills can top $5,000. FHI, which stands for Fitness Holdings International, was established in 2001 by Los Angeles private equity investment firm Hancock Park Associates. The firm also owns 45 Omni Fitness Equipment stores on the East Coast. |
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