Australia-based Macquarie Leisure Trust Group (MLTG) has acquired a portfolio of 10 health clubs and a site to develop one further site from Zest Health Clubs for AUS$7.4m (4.3m euro, £3.4m, US$6.m).

The new sites will be converted and rebranded as Goodlife Health Club’s, the MLTG-owned chain which currently operates mainly in Queensland.

The acquisition is part of MLTG’s strategy to expand the Goodlife brand into the South Australian market.

MLTG plans to spend AUS$1.2m converting and upgrading the clubs to the Goodlife brand and will retain the Zest operational staff.

Greg Shaw, MCGT chief executive, said: ““This acquisition represents excellent value and is expected to deliver significant accretion of 3 per cent to Macquarie Leisure’s distributions in the 2009 and 2010 financial years.

“The transaction will also fund an expansion of the Goodlife national office, which will position the Goodlife group for further expansion in the medium to longer term.”

Further to the Zest acquisition, MLGT also announced that it would accelerate its development pipeline in the AMF bowling division.

The group plans to open two new centres in Queensland and Victoria as well as redevelop of two existing freehold sites in Queensland.