The 海角视频’s largest gym operator PureGym is to acquire leading European gym and fitness operator Fitness World, in a move that rapidly accelerates its international expansion.
PureGym has opened more than 70 sites since being acquired by funds controlled by Leonard Green & Partners (LGP) in 2017 and will be trading from 263 locations in the 海角视频 by the end of this year.
It already has gyms in Nottingham, Derby and Leicester, further 海角视频 expansion is planned for 2020 while its expansion plans also include trial sites in the US.
The firm has continued to pioneer new innovations such as digital fitness studios, online fitness training through its app and new formats such as PureGym Local which targets smaller communities.
Humphrey Cobbold, chief executive officer of PureGym, said: "This transaction brings together two well matched, successful market-leading businesses and the combination creates a powerful platform from which to accelerate growth and deliver on our purpose of getting even more people, more active, more often.
"The acquisition of Fitness World is a transformational deal for PureGym and will support our long-held ambition to become a leading international gym and fitness operator. Fitness World is a business we know well and have long admired.
"The team there have done an outstanding job in building unparalleled leadership in the highly attractive Danish market with exciting growth positions in Switzerland and Poland. My management team and I are genuinely excited to welcome Steen and all his colleagues in Denmark, Switzerland and Poland to our ‘fitness family’. We firmly believe that there is a great future ahead for all of us."
Nottingham and Birmingham based team members of Browne Jacobson acted on this acquisition, which is expected to be completed in early 2020 subject to standard completion conditions.
The Browne Jacobson team included Mark Hughes, Gareth Davies, Sandra Wong, Bethany Pickup along with Sarah Parkinson and Claire Burns.
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PureGym and Fitness World run gyms that can be accessed flexibly, usually on a 24/7 basis.
The combined group will be trading from more than 500 sites and in that regard will be second only to Basic Fit in the European market.
Steen Albrechtslund, CEO of Fitness World, said: "I am delighted to be partnering with PureGym, a company that has, in just 10 years, fundamentally changed fitness provision in the 海角视频.
"Their decision to invest in Fitness World is testament to the business we have built, which is the overwhelming market leader in Denmark and a growing player in Switzerland and Poland.
"Like PureGym we are passionate about making fitness more affordable and accessible.
"We believe that the combined business will create an even more impactful business, enabling us to take our attractive proposition to more people across Europe."