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07 Jun 2024
WeMet snaps up Spanish Holmes Place clubs from Basic-Fit
BY
Kath Hudson
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Basic-Fit tidies up portfolio by divesting Holmes Place
photo: Basic-Fit
Basic-Fit has signed an agreement to sell five Holmes Place clubs it acquired as part of the RSG Group estate in March. The acquisition included 42 McFit clubs, which are an ideal match for conversion to the Basic-Fit brand, along with five high-spec Holmes Place clubs that were not a fit for the brand.
In its April trading update, Basic-Fit CEO, Rene Moos, said the future of the five Holmes Place clubs was under consideration: “We are currently exploring the options for the five Holmes Place clubs.”
Spanish premium sports facilities operator, WeMet, has agreed to buy the clubs for an undisclosed amount. The transaction is expected to be close in June.
The Holmes Place Spanish estate includes three clubs in Madrid and two in Barcelona, the chain was founded in London in 1980, by Allan Fisher. The clubs include a mix of wet and dry facilities, mind/body training and martial arts.
With more than 1,500 clubs, Basic-Fit is the largest fitness operator in Europe with more than four million memberships across six countries. The company is considering franchising to achieve its aggressive expansion targets.
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