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16 Oct 2019
Aussie fitness chain Viva continues acquisition programme – picks up Healthworks
BY
Tom Walker
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The eight, full-service Healthworks clubs offer group exercise classes, large gym floors and functional training areas
Australian health club operator Viva Leisure has acquired eight Healthworks Fitness Centres in the state of Queensland. Healthworks offers full-service clubs with group exercise classes, large gym floors and functional training areas.
The deal – which will be funded from Viva's cash reservers – is part of the company's plans to expand rapidly across Australia.
It comes just two months after Viva completed the acquisition of the Fitness 24/7 chain in the state of Victoria. In July, Viva scooped up the Project Fitness Group based in Mitchell, the Australian Capital Territory.
The acquisitions follow on from Viva's listing on the Australian stockmarket – the ASX – in June.
Viva owns and operates two full-service fitness chains – Club Lime and the ladies-only Club Pink – as well as the functional fitness operator HIIT Republic and boutique indoor cycling brand Psycle Life. It also has a personal training division, Gymmy PT.
By acquiring Healthworks, Viva is entering the Queensland fitness market for the first time.
In a statement, the company said: "Our data and research indicate that our hub and spoke model is conducive for the Queensland market and the sites acquired show attractive propositions based on this research and analysis.
"Under the Company’s hub and spoke model, Viva Leisure expects to open additional locations in Queensland, both under the Club Lime and hiit republic brands, in the short to medium term to compliment the Healthworks Acquisition."
Harry Konstantinou, CEO of Viva Leisure, added: "Entering the Queensland market for the first time with such a high-quality acquisition of the eight Healthworks clubs is an exciting milestone for us.
"The opportunities that it provides to extend our hub and spoke model into these new territories is significant. We expect to be operating over 15 locations in Queensland within the next 12 months."
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