Fitness First buys Australian LivingWell clubs for £10m
Health club operator Fitness First has reportedly acquired LivingWell’s Australian business for between £10m and £12m.
According to The Times, Fitness First bought the three Australian Livingwell Premier Clubs from US-based Hilton Hotels Corporation (HHC), which put the LivingWell health club chain up for sale four months ago for around £100m.
HHC bought LivingWell earlier this year as part of its £3.3bn (US$5.7bn, 4.7bn euro) takeover of Hilton International, which completed on 23 February.
Fitness First is controlled by BC Partners and has more than 400 clubs worldwide, including 45 in Australia.
The deal now leaves HHC with 25 UK clubs left to sell. The Times reports that there are between three or four bidders still believed to be involved in the sale, offering £80m to £90m for the chain. Details: www.hiltongroup.com
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