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Strategies & Market Trends : BFT: Will the tulip craze ever break down? -- Ignore unavailable to you. Want to Upgrade?

To: VeloSpeed who wrote (647)	7/21/1999 10:01:00 PM
From: polarisnh	Respond to of 650

Bally acquires Canadian health club chain CHICAGO, July 21 (Reuters) - Bally Total Fitness, the nation's largest health club operator, said Wednesday it acquired The Sports Clubs of Canada for an undisclosed sum, bolstering its position in Toronto. Following the acquisition, Bally will own and operate 13 fitness centers in the Toronto market, bringing the total number of its health clubs in North America to more than 350. ''We expect the acquisition to be accretive to our earnings and expect to achieve certain operating economies of scale as these clubs are quickly integrated into Bally's administrative support infrastructure,'' Lee Hillman, president and chief executive officer of Bally, said in a statement. Bally Total Fitness has added 26 new fitness centers across North America during 1999 and expects to open at least 10 more before the end of the year. Shares of Bally closed down 1-2/16 at 26-15/16.