Virgin gets active

Virgin Active has expanded its gym offering by acquiring Esporta for a consideration of £77.6 million.

The deal will give Virgin an additional 55 gyms, on top of the 71 gyms that it currently operates in the UK.

It is the first major acquisition for Virgin Active since it purchased Holmes Place in 2006 in a deal which valued the business at £650 million.

Matthew Bucknall, chief executive of Virgin Active, says: ‘The location of Esporta’s clubs is an excellent fit with our estate and significantly strengthens our business.’

Societe Generale bought Esporta out of administration in 2009.

Chairman of Esporta, John Cleland, says that the improvement in membership levels led to the acquisition.

Cleland adds: ‘The acquisition of Esporta by Virgin Active represents a real opportunity to build on the great work undertaken over the last two years.

‘Virgin is the perfect company to take the business forward. It has the experience, expertise and strong balance sheet required to take the business on to the next phase of its journey.’

Nick Britton

Nick Britton

Nick was the Managing Editor for when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

Related Topics

Fitness industry