According to SGB Media, RSG Group, Germany’s largest chain of gyms, has submitted a winning bid of $100 million to acquire Gold’s Gym, an American chain founded in 1965 in Venice Beach, California, well known for its role in the rise of bodybuilding. The original Gold’s Gym is a primary setting in the documentary Pumping Iron, which featured a young Arnold Schwarzenegger. The recent Covid-19 quarantine forced the chain to file voluntary petitions for relief under Chapter 11 bankruptcy on May 4. Later that month Gold’s negotiated to undertake court-approved marketing with its majority owner, TRT Holdings of Irving, Texas, as its stalking-horse bidder, but the RSG Group came up with the winning bid of $100 million in an auction on July 13, with approval from the bankruptcy court to come on July 24. If all goes according to plan, Gold’s Gym will emerge from bankruptcy with 61 owned gyms and more than 600 franchises. At present RSG operates 246 gyms in Germany, Austria, Italy, Poland and Spain and employs about 5,000 people spread over 48 countries. The acquisition of Gold’s Gym amounts to an entry into the U.S. market, and the company plans to enter Turkey and France this year as well.