Basic-Fit N.V. buys Fitland
NautaDutilh assists long-time client Basic-Fit N.V. (Euronext: BFIT), Europe's largest and fastest growing fitness operator, with its contemplated acquisition of all 37 clubs of Fitland, the third largest fitness operator in the Dutch market measured by number of clubs.
By adding this fitness operator, Basic-Fit further solidifies its leading position in the Netherlands. Basic-Fit intends to fully integrate the Fitland clubs in its network in due course and create a network in the Netherlands of close to 200 Basic-Fit clubs.
Fitland operates 37 mid-market fitness clubs across the Netherlands. With over 56,000 members, privately owned Fitland realises an annual revenue of approximately €21 million.
The contemplated transaction is subject to satisfaction of customary closing conditions, including consultation of works councils. The closing is expected in July 2019. The transaction value is undisclosed.
The team behind the transaction consists of Joost den Engelsman, Stefan Wissink, Joost Kloosterman, Sascha van Gelder (Corporate M&A), Antonia Netiv, Jasha Sprecher and Joppe Schouten (Capital Markets), Anne-Marie Verschuur (IT/IP), Barbara Nijs (Competition).
Basic Fit press release, De Telegraaf, beurs.nl.