Basic-Fit, one of the biggest fitness operators in Europe, has confirmed the completion of its acquisition of Fitland, the Netherlands' third-largest fitness operator.

Details of the deal were first revealed in April.

Rene Moos, CEO of Basic-Fit, said the acquisition will secure the company's leading position in the Dutch market. "We are pleased to add the Fitland clubs to our existing network of 161 clubs and believe this acquisition is attractive to shareholders, members and employees of both Fitland and Basic-Fit."

The buyout will increase Basic-Fit's 650-strong portfolio of clubs to 687, as it adds Fitland's 37 mid-market fitness clubs to the business.

Basic-Fit operates on a high-quality, value for money basis with a straightforward membership model that has already attracted two million members. It's currently operating in five European countries.

Moos said Bascic-Fit will rebrand and refurbish about 30 of the clubs and sell off the remainder, giving it a network in the Netherlands of close to 200 clubs. The integration is expected to be completed by the end of 2019.

Fitland has 56,000 members and annual revenues of approximately €21m (US$23.7m, £18.8m).

Basic-Fit is financing the deal through its existing bank facilities and said the acquisition will start contributing to earnings from 2020.