Viva Leisure completes acquisition of six Pinnacle Health Clubs in Victoria
4 February 2021
Acquisition of Pinnacle
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 6 Pinnacle health clubs as announced on 11 January 2021 (the Acquisition).
The Acquisition was originally expected to complete on or before 10 March 2021, 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 and facilitate its hub and spoke strategy in the Melbourne suburban-metro market.
Viva Leisure’s CEO and Managing Director, Harry Konstantinou said:
“We are pleased to have completed the acquisition of the Pinnacle clubs, a high-quality and complementary business to the Viva Brands. The transaction will significantly expand our reach and penetration throughout the Melbourne suburban-metro market. We look forward to welcoming our new team members, integrating the operations, and serving our new and expanded Victorian membership base.”
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 101 health clubs within the Australian Capital Territory, New South Wales, Victoria, and Queensland, together with the master franchise for the Plus Fitness group of approximately 200 clubs.