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Viva Leisure opens new sites and completes Fit n Fast Health Clubs acquisition
Fitness club owner Viva Leisure Limited has opened two new clubs - hiit republic Wollongong, and Club Lime Shellharbour - extending its “hub and spoke model” in the NSW Illawarra region.
The company has also announced that it has completed the acquisition of the Fit n Fast health clubs, first announced in early December.
Originally expected to complete on or before 31st March, with the satisfaction of all conditions precedent, the settlement completed earlier. This will allow Viva Leisure to bring forward its integration of the newly acquired clubs while also providing earlier than expected financial benefits from the acquisition.
Commenting on the deal, Viva Leisure Chief Executive and Managing Director, Harry Konstantinou stated “we are pleased to have completed the acquisition of the FnF clubs, and we look forward to welcoming their employees, integrating their operations and serving their members.
“The transaction will significantly expand our market reach and penetration throughout NSW whilst also providing additional sites in the ACT and Victoria.”
With the acquisition now complete, Viva Leisure advises it has 75 operating locations and over 95,000 members, including nine operating hiit republic locations.
Images: hiit republic Wollongong. Courtesy Viva Leisure.
3rd February 2020 - Club Lime beta tests new Life Fitness On Demand
28th August 2019 - Viva Leisure 2018/19 financial results exceed prospectus forecasts
8th August 2019 - Viva Leisure launches new app to offer keyless entry into clubs
8th June 2019 - Investors welcome Viva Leisure’s ASX listing
23rd January 2019 - Viva Leisure looks to continue fitness club expansion through 2019
20th January 2017 - Fit n Fast introduces new features in upgraded clubs
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