Crown Sports acquires fitness operators
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Crown Sports acquires fitness operators

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Crown Sports, is continuing its ongoing expansion following the acquisition of two private health club operators. Crown bought the 14-strong hotel-based operator, Fitness Express, for £3.4m and Axis Health and Fitness, owner of four clubs, for £8.94m. Former FIA chair David Courteen, co-founder of Fitness Express, will become managing director of the chain and is 'excited' by Crown's vision. Crown Sports chief executive, Steve Philpott is 'delighted' by the acquisitions that offer 'considerable growth potential.' Crown unveiled pro-forma pre-tax profits of £1.8m on a turnover of £19.7m for the year to 31 December 2000. The acquisitions, partly funded by the issue of 10m shares, also include a 70 per cent stake, worth some £2m, in racing and sports information company, The Winning Line. See Sport page.

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Crown Sports, is continuing its ongoing expansion following the acquisition of two private health club operators.
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