Virgin Active sells 35 UK fitness clubs to Nuffield

Wed, 15 Jun 2016 | DIVISION SALE

Virgin Active has slimmed down its portfolio of UK fitness clubs by selling 35 of its gyms to Nuffield Health in a deal thought to be worth around £80 million.

Loss-making Virgin Active had a portfolio of 96 fitness clubs across the UK before the sale went through in mid June 2016. The fitness group has said that the sale would sharpen its focus on upmarket facilities, which it brands as Collection clubs, as well as its large family-friendly clubs and tennis venues in the UK.

Virgin Active reported full-year losses of £87 million in its most recent financial statement, although this was closed slightly from £91 million the year before. There was a healthy 15 per cent jump in underlying earnings to £133.5 million, the company reported as the recent Nuffield Health deal was announced.

The sale is expected to be completed by the end of 2016, although which gyms have been earmarked for the switch has yet to be revealed. Nuffield Health, which is headquartered in Surrey, will see its roster of health and wellbeing gyms increase from 77 sites to 112. The organisation also operates 31 hospitals and around 200 corporate health and wellbeing units across the country.

Steve Gray, the chief executive of Nuffield Health, said: “This acquisition is a great move forward and allows us to increase the pace of delivery of our strategy and our charitable purpose, to help people achieve, maintain and recover to the level of health and wellbeing they aspire to.

“This acquisition will increase our reach in key sought-after locations and allow both members and non-members access to broader health and wellbeing services as well as proximity to Nuffield Health hospitals. I'm delighted to welcome new members and teams to the Nuffield Health family and firmly believe that they will benefit from our broader health and wellbeing model.”

For more information, see other health and lifestyle businesses for sale.


Share this article



Latest Businesses for Sale

Builders Merchant
Manchester, UK Wide

The business for sale is a popular, independent builders’ yard/supplier specialising in a wide range of building products. Offers invited.

Asking Price: £299,500
Turnover: £570,000

LEASEHOLD


Joinery Business
East London, South East, UK

This is a fantastic opportunity to acquire a long running and well-established joinery business currently serving the London area. Offers invited.

Asking Price: £420,000
Turnover: £780,000

LEASEHOLD


Dust & Fume Extraction Specialist
Scotland, UK

Specialises in comprehensive dust and fume extraction solutions, providing tailor-made designs, installations and support services. Offers invited.

Asking Price: Offers Invited
Turnover: £534,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
26
 
Mar
 

Craft beer company goes under | ADMINISTRATION

With stores in London, Canterbury and Margate, craft beer me...

 
25
 
Mar
 

West Midlands transport company enters administration | ADMINISTRATION

The company behind the Ring and Ride services throughout the...

 
22
 
Mar
 

Scunthorpe nightclub up for sale | BUSINESS SALE

A former nightclub based in Scunthorpe has been put up for s...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
08
 
Oct
 

2018: Top Track 250 | BUSINESS NEWS

It's often difficult for businesses to achieve growth o...

 
16
 
Apr
 

Virgin Active completes business sale | BUSINESS SALE

Virgin Active has completed its sale to the private-equity d...

 
06
 
Jul
 

British Land mulling property acquisition | BUSINESS SALE

Property investor British Land is considering making a &poun...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources