Otium Planning Group is a contemporary sport and leisure consultancy providing services in planning, facility development, management and funding for the sport, recreation and leisure industries…read more
Report suggests Fitness and Lifestyle Group buys CMG Asia for $200 million
The Fitness and Lifestyle Group is reportedly to pay $200 million to acquire the Vietnam-based CMG Asia gym group.
As reported today in the Australian Financial Review, the investment is apparently part of plans by Fitness and Lifestyle Group owner Quadrant Private Equity to expand the business - particularly in Asia - as it prepares the overall company for sale.
The AFR reports that “the Asian acquisitions are sure to bring a strong Asian growth story to the auction, which would likely increase the field of potential buyers and perhaps add some sizzle to its predominantly Australian gyms portfolio.”
Based in Ho Chi Minh City (formerly Saigon) CMG (California Management Group) Asia operates in four industry sectors: fitness and health, medical and beauty, media entertainment and early childhood development.
It is also the south east Asian master franchisor for UFC Gyms.
AFR sources said CMG Asia facilities have about 100,000 members generating about $20 million in annual earnings.
The AFR suggested that with over $600 million revenue, if sold, the media-shy Fitness and Lifestyle Group would be worth up to $2 billion.
Image shows CMG Asia's California Fitness brand.
The Fitness and Lifestyle Group was profiled in the latest issue of Australasian Leisure Management.
5th January 2018 - Fitness and Lifestyle Group acquires Tasmanian-based Zap Fitness
27th October 2017 - Fitness and Lifestyle Group acquires Go Health Clubs
23rd February 2017 - Asian fitness club merger sees creation of Evolution Wellness
2nd December 2016 - ACCC will not oppose Quadrant’s Fitness First acquisition
29th September 2016 - Quadrant expands wellness empire with acquisition of Fitness First Australia
27th September 2016 - UFC Gyms begin South East Asian expansion
18th September 2016 - Quadrant Private Equity adds Jetts to fitness sector acquisitions in $100 million deal
26th October 2010 - World Gym acquires California Fitness in Taiwan
10th September 2009 - California Fitness Sells Malaysian Business
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.
The Complete Guide to Leisure Industry Products & Services.
Quayclean are a national cleaning and waste services partner with proven results in the understanding and delivery of cleaning needs and challenges faced by facilities including; major venues and…read more
TicketSearch is focused on providing businesses, organisations, and venues with affordable, efficient, and powerful self-managed ticketing solutions. The organisation has offices in Australia, New…read more
Compliant chemical storage and decanting solutions. Includes spill kits, spill containment pallets, chemical decanting decks and safety shower and eyewash equipment. See our full range of solutionsread more
Digonex is a leading provider of customised dynamic pricing solutions to clients in arts and entertainment, sport, attractions, cultural institutions and retail sectors. Digonex’s technology is…read more
Centaman has been a market leader in Enterprise Software Solutions for the leisure and recreation industry and both profit and not-for-profit attractions since 1991. It offers a wide range of software…read more
SimplySwim is a school management solution that helps swimming school owners and managers optimize operations by automating functions such as managing class schedules, billing and…read more
Hydrocare Pool Services Pty Ltd offer 30 years of experience in aquatic industry features, products and water treatment. Hydrocare Pools has undertaken water treatment for aquatic centres and…read more
get listed with our suppliers directory
Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!