VIVA LEISURE COMPLETES ACQUISITION OF 13 FITNFAST CLUBS
14 February 2020
Viva Leisure Limited (“Viva Leisure” or “the Company”), a leading technology-focused Australian health club owner, is pleased to announce it has completed the acquisition of the 13 FnF health clubs as announced on 2 December 2019 (the Acquisition).
The Acquisition was originally expected to complete on or before 31 March 2020, however, with the satisfaction of all conditions precedent, the settlement was able to be completed earlier. The early completion will provide Viva Leisure with the opportunity to bring forward its integration of the newly acquired clubs whilst also providing earlier than expected financial benefits from this EPS accretive acquisition.
Viva Leisure’s CEO and Managing Director, Harry Konstantinou said:
“We are pleased to have completed the acquisition of the FnF clubs, and we look forward to welcoming their employees, integrating their operations and serving their members. The transaction will significantly expand our market reach and penetration throughout NSW whilst also providing additional sites in the ACT and Victoria.”
With the acquisition now complete, Viva Leisure advises it has 75 operating locations and over 95,000 members.
Release of Half Year 2020 Results
Viva Leisure will release its financial results for the half year ended 31 December 2019 on Wednesday 26 February 2020.
For further information, please contact:
Harry Konstantinou, CEO and Managing Director, +61 2 6163 8011
About Viva Leisure:
Founded in 2004, Viva Leisure operates health clubs (gymnasiums) within the health and leisure industry. Viva Leisure’s mission is to connect health and fitness to as many people as possible and aims to provide its members with affordable, accessible and awesome facilities.
Viva Leisure offers customers several different membership options and a range of different types of facilities from big-box fitness facilities to boutique fitness facilities. The Company currently operates within the Australian Capital Territory, New South Wales, Victoria and Queensland, with the majority operating under the Club Lime brand.