Portuguese market leader Fitness Hut sold to Viva Gym
Leisure Opportunities
Job search
Job Search
see all jobs
Latest job opportunities
Essex Boot Camp
Competitive
Loughton / Epping / Chigwell area
Everyone Active
Competitive
South Oxhey Leisure Centre, Watford
SnowDome
Competitive
Tamworth, UK
Leisure Focus
Up to £45,000 depending on experience
Braywick Leisure Centre, Maidenhead, UK
Stantonbury International Sports Centre
Competitive
Stantonbury Leisure Centre, Milton Keynes

Portuguese market leader Fitness Hut sold to Viva Gym

Job opportunities
CVLIFE
£28,000 - £33,000 (depending on experience)
location: Coventry, UK
Leisure Focus
Up to £45,000 depending on experience
location: Braywick Leisure Centre, Maidenhead, UK, United Kingdom
Future Fit Training
Competitive
location: Various locations, including London & Manchester, United Kingdom
more jobs
We’re very excited about the opportunity for low-cost fitness in Iberia and we look forward to working with our new partners to become the undisputed market leader in Spain and Portugal

Spanish firm Viva Gym has announced the acquisition of Portuguese brand Fitness Hut, creating the largest low-cost fitness group in the Iberian Peninsula.

The sale of Fitness Hut means Viva Gym will grow to almost 200,000 members, with the groups’ combined revenues totalling more than €50m ($60.18m, £44.49m).

The combined group – which will be led by Viva Gym CEO Juan del Río Nieto, and will continue to operate under two separate brands – will initially have 48 sites.

Fitness Hut has 31 clubs, providing gym facilities and nutritional services to 110,000 members, and running 3,300 fitness classes a week.

“We’re very excited about the opportunity for low-cost fitness in Iberia and we look forward to working with our new partners to become the undisputed market leader in Spain and Portugal,” said Nick Coutts, CEO and co-founder of Fitness Hut.

Coutts, who first revealed plans to enter the fast-growing Spanish market in an interview with Health Club Management in September, said the deal represents “the next stage of growth” for his business.

In the interview, Coutts said: “We've had discussions about going to Spain, so that's quite likely. I’m realistic – there’s going to be continued consolidation over the next couple of years, and I imagine we’ll be part of that.

“But even if we’re acquired, it would be great if Fitness Hut brand could live on and be grown rather than be rebranded.”

The groups both launched in 2011, with Viva Gym founded by private equity firm Magenta Partners.

In 2015, Bridges acquired a majority stake in Viva Gym. The firm, which was responsible for launching the Gym Group, has also recently invested in Impact Fitness.

The sale of Fitness Hut was advised by Clearwater International and was made possible by an investment by Bridges, plus a co-investment from Magenta Partners, Hermes GPE and two other, unnamed, businesses.

Fitness Hut’s founding investor Edge Capital and subsequent investor Oxy Capital will exit as part of the deal.

Gareth Iley, partner and head of consumer at Clearwater International, said: “This cross-border transaction brings together two strong companies with exceptional management teams, to form an unrivalled Iberian market leader.

“With the increasing consumer demand for convenient, low-cost gyms that still maintain high quality, the growth potential is vast and we look forward to seeing this partnership thrive.”

Bridges investment director James Hurrell added: “There’s a clear opportunity for the two brands to improve their offering by sharing knowledge and best practice, and committed funding is in place to deliver an accelerated growth plan.”

Sign up for FREE ezines & magazines
Spanish firm Viva Gym has announced the acquisition of Portuguese brand Fitness Hut, creating the largest low-cost fitness group in the Iberian Peninsula.
HAF,PHR
THUMB24388_459292.jpg

More News

1 - 15 of 43,320
16 Jun 2021
Discount rail and bus travel and £10m in vouchers to key attractions – funded by the National Lottery – are among the measures announced in ... More
16 Jun 2021
Reports in today's national media, including the Daily Telegraph and Sky News, suggests the UK government is set to extend the ban on commercial evictions ... More
15 Jun 2021
Operating a further four weeks at reduced capacity will place serious pressure on English fitness facilities – if the government doesn't urgently provide additional financial ... More
15 Jun 2021
People experiencing homelessness are being offered free access to leisure centres by Oxford City Council. A scheme launched this month (June 2021) will see the ... More
15 Jun 2021
IHRSA has appointed Elizabeth Clark as its new president and CEO. Clark joins the industry body from the National Confectioners Association (NCA) – the trade ... More
15 Jun 2021
Buro Happold, has acquired acoustics and audio-visual consultancy Vanguardia Limited and its subsidiary Crowd Dynamics International. The move will strengthen Buro Happold’s depth of expertise ... More
Miha Bodytec GmbH
Miha Bodytec GmbH
15 Jun 2021
Boutique studio operator TRIB3 has launched its own-brand range of luxury toiletries. The operator, which recently entered the Benelux market by signing a 20-site franchise ... More
15 Jun 2021
Rainer Schaller's RSG Group is bringing its John Reed brand of health clubs to the UK for the first time. Set to open in London's ... More
11 Jun 2021
The government needs to urgently set out its plans to support physical activity and fitness businesses, if it intends to delay Step 4 of its ... More
11 Jun 2021
Glofox will begin offering health clubs, gyms and fitness studios instant access to financing, following a deal struck with Stripe Capital. The club management software ... More
10 Jun 2021
Hong Kong-based Bricks Group has revealed plans to launch its health club chain, U Time, in Europe and the UK. U Time currently operates a ... More
10 Jun 2021
A £30m luxury leisure development scheme which has been more than a decade in the making has finally been given the green light by Newcastle ... More
JP Lennard
JP Lennard
09 Jun 2021
Apple has previewed its much-awaited watchOS 8, the operating system for its Apple Watch. The latest update to the system will add a number of ... More
09 Jun 2021
Chinese health club chain Supermonkey has finalised a series E funding round, valuing the company at nearly US$1bn. The latest round was led by a ... More
08 Jun 2021
Gymbox has signed a partnership agreement to provide members of flexible workspace provider WeWork with both in-person and on-demand fitness classes. WeWork members will gain ... More
1 - 15 of 43,320
CzechTourism
CzechTourism