Deal profile | Gadens helps Viva Leisure on its most exciting acquisition to date
23 July 2020
Gadens has advised Viva Leisure on its contracted acquisition of Australian Fitness Management Pty Ltd, the master franchisor of the Plus Fitness franchise of health clubs.
Viva Leisure operates health clubs across the Australian eastern seaboard with brand names under its banner including Club Lime, HIIT Republic, Gymmy PT, Fit N Fast. The Plus Fitness franchise comprises approximately 200 health clubs across Australia, New Zealand and India, with the acquisition allowing Viva Leisure to break into new markets.
Gadens acted as advisers to Viva Leisure through all legal aspects of the binding agreement negotiations.
Commenting on the transaction, Jeremy Smith said: “We are delighted to once again play a significant role in the expansion of Viva Leisure into new markets. After assisting Viva Leisure navigate through the challenges 2020 has brought to the fitness industry, it is pleasing to see the market continue to react positively to the strong brand the team at Viva Leisure has developed, allowing them to pursue new and exciting opportunities such as the acquisition of Plus Fitness.“
Our team: The team was led by Partner and Chairman Jeremy Smith and the Corporate Advisory Team’s Steven Wambeek (Senior Associate) and James Langanis (Associate), strongly supported by the Gadens specialist Franchising, IP/IT, Employment and Property teams.