Latest News

Back to Latest News back

 

ACCC will not oppose Quadrant’s Fitness First acquisition

ACCC will not oppose Quadrant’s Fitness First acquisition
December 2, 2016

The Australian Competition and Consumer Commission (ACCC) has advised that it will not oppose private equity firm Quadrant's proposed acquisition of Fitness First Australia’s operations.

Quadrant, which burst into the Australian fitness market in August with the aquisition of Goodlife Health Clubs and subsequent purchase of 24/7 fitness chain Jetts Fitness, announced its plans to buy Fitness First’s 65 Australian clubs from hedge fund giant Oaktree Capital in late September.

The ACCC’s subsequent investigation was based on the market reach of Fitness First and Goodlife, which are the two largest chains of full service clubs in Australia.

Both businesses overlap in Victoria, New South Wales and Queensland.

In making its findings, the ACCC said it took into account high churn rates affecting the gym industry in the past few years, where a number of new operators, including companies from overseas have entered the market and experienced significant growth in a short time frame.

ACCC Commissioner Roger Featherston stated “the ACCC determined that following the proposed acquisition, Fitness First, Goodlife, and Jetts would continue to face competition from other alternatives, including low cost gyms such as Anytime Fitness and specialist gym providers such as F45 and Crossfit.

"The ACCC also found that convenience of location was an important factor in a consumer's choice of gym thereby giving an individual gym an opportunity to compete against a chain of gyms.

"Other suppliers of fitness services, such as bootcamps, or specialist studios, such as pilates, also impose a degree of competitive constraint on full service gyms."

Quadrant's no.5 fund is worth $980 million and, following the acquisition, will operate over 130 gyms under the Fitness First and Goodlife brands, managed by Quadrant's Fitness and Lifestyle Group.

Images: Fitness First's newly opened club at Sydney's Barangaroo

30th November 2016 - FITNESS FIRST’S NEW ‘TITANIUM’ CLUB LAUNCHED AS AUSTRALIA’S FIRST ‘CONNECTED GYM’

25th October 2016 - FITNESS FIRST CLUBS TO BEGIN 24/7 OPERATIONS

21st October 2016 - AUSTRALIAN COMPETITION AND CONSUMER COMMISSION TO SCRUTINISE QUADRANT’S FITNESS FIRST ACQUISITION

29th September 2016 - QUADRANT EXPANDS WELLNESS EMPIRE WITH ACQUISITION OF FITNESS FIRST AUSTRALIA

19th August 2016 - ARDENT LEISURE SELLS GOODLIFE​ HEALTH CLUBS IN $260 MILLION DEAL

25th March 2014 - FITNESS AUSTRALIA RELEASES NATIONAL MEMBERSHIP CONTRACT TEMPLATE, APPOINTS NEW BOARD MEMBER 

29th May 2013 - NSW FAIR TRADING COMMISSIONER REMINDS CONSUMERS OF GYM MEMBERSHIP RIGHTS AND RESPONSIBILITIES 


Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.


Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

The Jump Pad

The Jump Pad is a safe, flat inflatable made in a variety of sizes which can be used indoor or outdoor. From 3mx3m up to a whopping 9mx21m. Markets include Indoor and outdoor playgrounds, schools,…

read more

Attractions / Entertainment / Play

 
 

APT Asia Pacific Pty Ltd

APT (Advanced Polymer Technology) is the leading global manufacturer of polyurethane-based materials, acrylic coatings and synthetic turf products for sporting and recreational applications. From…

read more

Environment / Sport / Surfaces / Technology

 
 

Hadley/Series Australia Pty Ltd

Hadley Australia and Series Australia Pty Ltd are the leading quality theatre chair manufacturers in the southern hemisphere. The businesses work closely with architects, interior designers and…

read more

Arts / Culture / Design / Entertainment / Venues

 
 
 

XBODY Australia Pty Ltd

PROVEN BUSINESS CONCEPTS WITH XBODY XBody’s goal is to see you and your EMS business succeed. That is why we don’t just sell equipment, we provide know-how, expert knowledge,…

read more

Fitness / Technology / Wellness

 
 

Felton Industries

Felton Industries is Australia’s leading designer, manufacturer and supplier of quality outdoor furniture and has been supplying premium seating solutions for all sporting, commercial, community…

read more

Parks / Play / Recreation / Sport / Venues

 
 

PRIAVA

About Priava's Technology -  Priava is a cloud-based and centralised venue and event management system aimed at venues of all sizes. With its familiar and easy-to-use web interface, the…

read more

Attractions / Billing / Entertainment / Events / Technology

 
 

Aflex Inflatables

Aflex Inflatables are the leaders for obstacle courses, pool toys, waterparks and land-based watersides and fitness runs. They are industry leaders offering the widest range of pool, lake and beach…

read more

Aquatics / Play / Waterparks

 
 
 
 

get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business