The Glanger family, co-owners of the Dallas, Texas-based retail business Fitcorp, has announced it will buy out longtime partner Ian Rosenberg and his two sons Robert and Jonathan. Financial terms of the deal were undisclosed.
The change comes on the heels of owner-operator Trevor Glanger passing away in March after being ill for about three years with a brain tumor. During that time, Trevor’s son Gary (photo, right) and wife, Karen, worked with Rosenberg running the business.
“Once my father passed away,” Gary Glanger told SNEWS, “we thought about what we wanted to do moving forward. And I’ve been basically running the business for three years.
“This makes a lot of sense in cost-savings,” he explained, “to carve out one family, either one, would have made sense.”
After Trevor passed away, Gary said they asked themselves what his dad would have wanted.
“We felt this was the best way to honor my father,” he said, “to keep the business as an ongoing legacy.”
The deal was signed June 10, and Ian Rosenberg, who was with the business for more than a decade, will leave June 30, 2011.
“Everything is the same going forward from the consumer and supplier said,” Gary told SNEWS, “and as far as Fitcorp is concerned.”