World Leisure Jobs - Portuguese market leader Fitness Hut sold to Viva Gym...
16 Jan 2018 World leisure: news, training & property
 
 
HOME
JOBS
NEWS
FEATURES
PRODUCTS
FREE DIGITAL SUBSCRIPTION
PRINT SUBSCRIPTION
ADVERTISE
CONTACT US
Sign up for FREE ezine
Latest news

11 Jan 2018

Portuguese market leader Fitness Hut sold to Viva Gym
BY Rob Gibson

Fitness Hut runs 3,300 fitness classes a week but the deal means it will become part of a bigger operation across Portugal and Spain

Fitness Hut runs 3,300 fitness classes a week but the deal means it will become part of a bigger operation across Portugal and Spain

Spanish firm Viva Gym has announced the acquisition of Portuguese brand Fitness Hut, creating the largest low-cost fitness group in the Iberian Peninsula.

The sale of Fitness Hut means Viva Gym will grow to almost 200,000 members, with the groups’ combined revenues totalling more than €50m ($60.18m, £44.49m).

The combined group – which will be led by Viva Gym CEO Juan del Río Nieto, and will continue to operate under two separate brands – will initially have 48 sites.

Fitness Hut has 31 clubs, providing gym facilities and nutritional services to 110,000 members, and running 3,300 fitness classes a week.

“We’re very excited about the opportunity for low-cost fitness in Iberia and we look forward to working with our new partners to become the undisputed market leader in Spain and Portugal,” said Nick Coutts, CEO and co-founder of Fitness Hut.

Coutts, who first revealed plans to enter the fast-growing Spanish market in an interview with Health Club Management in September, said the deal represents “the next stage of growth” for his business.

In the interview, Coutts said: “We've had discussions about going to Spain, so that's quite likely. I’m realistic – there’s going to be continued consolidation over the next couple of years, and I imagine we’ll be part of that.

“But even if we’re acquired, it would be great if Fitness Hut brand could live on and be grown rather than be rebranded.”

The groups both launched in 2011, with Viva Gym founded by private equity firm Magenta Partners.

In 2015, Bridges acquired a majority stake in Viva Gym. The firm, which was responsible for launching the Gym Group, has also recently invested in Impact Fitness.

The sale of Fitness Hut was advised by Clearwater International and was made possible by an investment by Bridges, plus a co-investment from Magenta Partners, Hermes GPE and two other, unnamed, businesses.

Fitness Hut’s founding investor Edge Capital and subsequent investor Oxy Capital will exit as part of the deal.

Gareth Iley, partner and head of consumer at Clearwater International, said: “This cross-border transaction brings together two strong companies with exceptional management teams, to form an unrivalled Iberian market leader.

“With the increasing consumer demand for convenient, low-cost gyms that still maintain high quality, the growth potential is vast and we look forward to seeing this partnership thrive.”

Bridges investment director James Hurrell added: “There’s a clear opportunity for the two brands to improve their offering by sharing knowledge and best practice, and committed funding is in place to deliver an accelerated growth plan.”



Connect with
World Leisure
Magazine:
View issue contents
Sign up:
Instant Alerts/zines

Print edition
 

News headlines
Birdsong, trees, sky: study suggests exposure to nature important for those at risk of poor mental health
Birdsong, trees, sky: study suggests exposure to nature important for those at risk of poor mental health   15 Jan 2018

A team of academic researchers, landscape architects and artists have come together to look at how nature in cities affects mental wellbeing. .... more>>
Perkins+Will create science hub to anchor Suzhou culture district
Perkins+Will create science hub to anchor Suzhou culture district   15 Jan 2018

A science museum in Suzhou, China, is to act as the centrepiece of a new cultural district in the city, with the design celebrating nature while .... more>>
Welcome to the Gucci Garden: Alessandro Michele celebrates luxury brand with restaurant and museum in Florentine palace
Welcome to the Gucci Garden: Alessandro Michele celebrates luxury brand with restaurant and museum in Florentine palace   15 Jan 2018

The creative director of Gucci has opened a restaurant, museum and gift shop dedicated to the luxury fashion house – in a 14th-century Florentine .... more>>
Ricky Hatton’s boxing brand partners Myzone to offer fitness training
Ricky Hatton’s boxing brand partners Myzone to offer fitness training   12 Jan 2018

Gyms registered with Myzone will be able to sign up to ‘boxing for fitness’ training sessions following a deal between the wearable technology company .... more>>
Company profile


Pure World Energy

PWE is an engineering based company focussed on delivering integrated energy generation and demand side reduction solutions for its customers.

View full profile>>

Catalogue gallery


Featured Supplier

The more effective kind of impact sound insulation

The more effective kind of impact sound insulation

The function of the flooring in regard to protecting the building fabric is very important in fitness centres. More>>




in this issue

• English clubs dominate football index
• Fiit to disrupt with £2.4m seed funding
• Mandarin Oriental plans Mayfair hotel



World Leisure jobs




Recreation Assistant / Lifeguard
Salary: £15,800 - £16,010
Location: Windsor, United Kingdom
Company: Legacy Leisure
Assistant General Manager
Salary: up to £20,000 + optional 100% of PT earnings
Location: Altrincham, United Kingdom
Company: The Gym Group
SportsDock Duty Manager
Salary: Starting from £33,357 p.a. pro rata
Location: London, United Kingdom
Company: University of East London
Sports Assistant
Salary: Starting from £16,983, rising to £18,263
Location: Bath, United Kingdom
Company: University of Bath
Diary dates
Powered by leisurediary.com




16-18 Jan 2018

Visitor Attraction Expo

ExCel London Exhibition Centre, London, United Kingdom


16-18 Jan 2018

EAG International

ExCel London Exhibition Centre, London,



Leisure Management magazine 2016 issue 1
Leisure Management
2016 issue 1

View issue contents
View on turning pages
Download PDF
  Thermal Spa: Taking the waters
Magali Robathan met the key people behind the Gainsborough Bath Spa More>>
  Disruption: Rule breakers
Leisure architecture that’s pushing boundaries and upturning expectations More>>


Leisure Management magazine 2015 issue 1

Leisure Management
2015 issue 1

View issue contents
View turning pages
Download PDF
  Fitness: Wild fitness
A look at the new breed of animalinspired workout classes taking the fitness industry by storm More>>
  Wellness: Township Yogi
The innovative project using yoga to spread peace and wellbeing to deprived communities in South Africa More>>


Published by The Leisure Media Company Ltd Portmill House, Portmill Lane, Hitchin, Herts SG5 1DJ. Tel: +44 (0)1462 431385 | Contact us | About us | © Cybertrek Ltd