KUALA LUMPUR, Nov 10 (Bernama) -- Fitness and wellness brand, Virgin Active has agreed to acquire Holmes Place Germany for 135 million euros in cash, marking its entry into Europe’s largest fitness market. (1 Euro = RM4.55)
Virgin Active To Buy Holmes Place Germany For 135 Mln Euros
Virgin Active To Buy Holmes Place Germany For 135
BE Bernama 
Key takeaways
Virgin Active agreed to buy Holmes Place Germany for 135 million euros in cash, entering Europe's largest fitness market. The deal covers 13 clubs, with completion scheduled for mid-December.
- The unconditional agreement was signed on Oct 30 with a joint venture involving AUCTUS Capital Partners.
- The acquisition includes 13 premium wellness clubs located in Berlin, Düsseldorf, Hamburg, Cologne, Essen, and Lübeck.
- Virgin Active will fund the purchase using existing cash from its October rights issue to shareholders.
Summarised automatically by AI from the original article by Bernama. AI can make mistakes, so check the original for details.
Read the full story on Bernama That's the opening of the story. The full piece is published by Bernama.
Continue reading ↗ Story details
- Published
- Section
- news
- Format
- Article
- Original
- bernama.com ↗
Topics
