Deal profile | Gadens advises Viva Leisure on the acquisition of iFitness 24/7
26 April 2024
Gadens has advised Viva Leisure Operations Pty Ltd (a wholly owned subsidiary of Viva Leisure Limited (ASX: VVA)) on the recent acquisition of iFitness 24/7, a leading health club operator in the Northern Territory.
The addition of four new locations marks Viva Leisure’s inaugural entry into the Northern Territory market, elevating its portfolio to 173 locations nationwide. iFitness 24/7 is anticipated to bring in over 5,000 new members to Viva Leisure’s expanding network.
Viva Leisure intends to rebrand the newly acquired locations to Club Lime, increasing the number of clubs under this flagship brand to 112 and solidifying its position as Australia’s largest non-franchised health club brand.
Gadens has a longstanding relationship with Viva Leisure in supporting its strategic expansion across Australia.
Commenting on the transaction, lead partner Jeremy Smith, said: “It has been a pleasure to continue working together with the Viva team and we look forward to seeing the momentum that Viva will gain with a greater footprint throughout Australia.”
Practice groups: Corporate, supported by the Real Estate and Construction and Workplace Advisory and Disputes groups.
Key team members: Lead Partner Jeremy Smith was supported by Robert Wilson (Senior Associate), Daphne Chiang (Lawyer) and Stephanie Poloyannis (Lawyer).
