Tristar Gym

Tristar Gym

July 12, 2010 11:01 ET

Tristar Gym and Alexandre Choko Reach Ownership Agreement

MONTREAL, QUEBEC--(Marketwire - July 12, 2010) - Mr. Alexandre Choko, the driving entrepreneur behind the acquisition, expansion and repositioning of Tristar Gym into the most prestigious martial arts facility in Canada, has accepted to sell the totality of his Tristar shares to ex-partner Mr. Firas Zahabi for an undisclosed six-figure amount. Mr. Choko agreed to Mr. Zahabi's settlement offer after months of negotiations and attorney interventions.

The former partners had been locked in a dispute over Tristar's ownership, following allegations of misuse of company funds. "After a detailed revision of the company's financial records, we found no evidence of any misappropriation of funds or irregular activity by Mr. Choko during his mandate as president of Tristar," stated Mr. Zahabi. "Considering that Alexandre had expressed his intent to pursue other ventures in writing a book and promoting boxing events, we made a buy-out offer, which we believe to be completely fair and in line with the evaluation of the business."

Mr. Zahabi, trainer of superstar UFC champion Georges St-Pierre, has become a household name to fight fans everywhere. "I fully intend to continue the tradition of excellence started by Alexandre with Tristar Gym," said Mr. Zahabi. "He's an entrepreneur with vision. I'm certain that whatever he does next will have an impact and I wish him success on his new ventures."

Mr. Choko, although no longer a shareholder, continues to promote Tristar at every occasion and regularly refers clients to the gym. "I sincerely believe that Firas and I built the best training facility in the country. Under his management, amateurs and professionals of combat sports can still expect to find an optimum environment to develop their skills under some of the top instructors in the business."

Tristar Gym is located at 5275 Rue Ferrier, Montreal. It offers world-class multi-disciplinary martial arts training in a fully equipped 13,500 square-foot facility.

www.tristargym.com

Contact Information

  • Contact TRISTAR GYM:
    Firas Zahabi
    514-343-0148
    or
    Contact ALEXANDRE CHOKO:
    Agence Pink Marketing
    Leeja Murphy
    514-528-6362
    C: 514-213-0045
    leeja@agencepink.com