Equinox gym has closed on its deal to purchase privately held SoulCycle, confirming an exclusive Post report last month.
Terms were not released.
The indoor cycling studio with a celebrity cult following — die-hard clients include Chelsea Clinton, Brooke Shields, Tom Cruise and Katie Holmes — will gain access to the deep pockets of Equinox, the upscale national gym, to help grow its modest footprint.
Equinox, looking to add the fast-growing spinning market to its business mix, had previously considered SoulCycle’s rival, Flywheel Sports, which was co-founded by one of SoulCycle’s original partners, according to Equinox CEO Harvey Spevak.
Equinox plans to add nine spinning studios to the current six, which are located in Manhattan, Miami and the Hamptons, by the end of next year, with the seventh opening on Memorial Day in East Hampton, Spevak said.
A new, 2000 square-foot studio is planned for the Harrison, a luxury Robert A.M. Stern-designed building on the Upper West Side, to replace the current smaller location.
The new locations will be in Manhattan and its wealthy suburbs, as well as in Los Angeles.
Equinox, owned by real estate giant Related Cos., also expanded operations for brands such as Pure Yoga and Blink, a machine-focused more traditional gym without bells and whistles like group classes, trainers, spa, boutique or café.
“Our strategy is to support the success of SoulCycle and accelerate its growth,” Spevak said, adding that co-founders Elizabeth Cutler and Julie Rice will stay on board.
SoulCycle, he added, is similar to Pure Yoga because both cater to a similar clientele in a boutique setting.