Virgin Active To Buy Holmes Place Germany For 135 Mln Euros
KUALA LUMPUR, Nov 10 (Bernama) -- Fitness and wellness brand, Virgin Active has agreed to acquire Holmes Place Germany for 135 million euros in cash, marking its entry into Europe’s largest fitness market. (1 Euro = RM4.55)
The unconditional agreement was signed on Oct 30 with a joint venture between Holmes Place Europe and funds controlled by AUCTUS Capital Partners. Completion and the transfer of ownership are scheduled for mid-December.
The deal covers 13 premium wellness clubs in Berlin, Düsseldorf, Hamburg, Cologne, Essen and Lübeck. On a pro forma basis, Holmes Place Germany will contribute about 14 per cent of Virgin Active Group’s 2026 earnings before interest, taxes, depreciation and amortisation (EBITDA).
“Our entry into Germany is an important milestone in Virgin Active’s global expansion in the premium wellness segment,” said Virgin Active Group Chief Executive Officer (CEO), Dean Kowarski in a statement.
He said the company intends to progressively introduce its Social Wellness Club model at the German clubs, combining fitness facilities with recovery areas, spas and co-working spaces.
Meanwhile, Holmes Place Germany CEO, Doron Dickman said joining Virgin Active marked the beginning of a new phase of development for its German operations.
The existing management team will remain, and Virgin Active said there are no immediate plans that would affect members or staff.
The acquisition will be funded from existing cash following Virgin Active’s rights issue to existing shareholders in October. The company said buying an established, profitable business gives it immediate scale at a cost significantly below that of building an equivalent network.
Germany has 12.4 million fitness club members, and its premium segment is forecast to grow 9.3 per cent to 2028, according to the European Health & Fitness Report 2026. The deal follows Virgin Active’s recent acquisition of its first club in Lugano, Switzerland, and the planned opening of its first club in Vienna, Austria, in early 2027.
Virgin Active operates 224 clubs in 10 countries, including Singapore and Thailand, serving more than one million members. It also runs over 260 healthy food restaurants worldwide.
-- BERNAMA