Hastings-based fitness center chain Anytime Fitness said Monday that it has acquired Waxing the City, a Denver-based salon chain that specializes in waxing and hair-removal services.
Financial terms of the deal were not disclosed.
Waxing the City offers facial and body waxing services for women and men. It currently has four locations in the Denver area and one salon in Dallas, and it intends to open its first Minnesota location in Woodbury in mid-December.
Anytime said that it has significant growth plans for the salon chain, beginning with “rapid expansion into franchise sales by April 2013.” In fact, Anytime is projecting that there will be roughly 249 Waxing the City salons operating by the 2016 fiscal year, Anytime spokeswoman Tara Dosh told Twin Cities Business on Monday.
Dosh said that the acquisition marks Anytime’s first acquisition outside of the fitness industry—“the first of what we hope to be many.”
She said that the company aims to leverage its existing infrastructure and extend its business model “beyond fitness clubs to other potentially franchise-able businesses within health and wellness sector.” She said that the company currently “has the infrastructure to scale this nationally,” but as it continues to grow, Anytime will hire more employees as needed.
“We’re excited to extend the Anytime Fitness mission of ‘improving the self-esteem of the world’ to the hair-removal category,” CEO Chuck Runyon said in a statement. “Waxing the City helps people feel good about themselves in a non-intimidating environment, much like Anytime Fitness has done for the last 10 years.”
Anytime Fitness was founded in 2002 and is currently the fastest-growing fitness club franchise in the world. It has nearly 1.5 million members at its 2,000 clubs worldwide, which are open 24 hours a day.
To learn more about how Runyon and co-founder Dave Mortensen have grown Anytime Fitness to become a world leader, read Twin Cities Business’ September cover story by clicking here.