Viva Leisure's Strategic Expansion

Viva Leisure Limited (ASX: $VVA) has strategically expanded into the Northern Territory market through the acquisition of iFitness 24/7, a leading health club operator in the region. The acquisition marks Viva Leisure's first entry into the Northern Territory, significantly broadening its national footprint and strengthening its position as a key player in Australia's health club industry.

Viva Leisure's Managing Director and CEO, Harry Konstantinou, on the Acquisition

We are genuinely excited to enter into the Northern Territory market with the strategic acquisition of iFitness 24/7. This expansion not only grows our network but also diversifies our geographical presence, bringing Viva's exceptional service and community focus to a new membership audience. The addition of these locations to our portfolio is a testament to our team's hard work and dedication to broadening our reach and impact. We are excited to welcome over 5,000 new members to the Viva family and look forward to the opportunities this new market will bring to our stakeholders.

Strategic Acquisition and Continued Growth

Viva Leisure (ASX: $VVA) has strategically expanded its market reach by acquiring iFitness 24/7, marking its entry into the Northern Territory. The acquisition, at a consideration of $5.2 million in cash, is expected to contribute approximately $1.5 million in EBITDA and $4.4 million in revenue in the FY2025. With the rebranding of the new locations to Club Lime, Viva will operate 112 clubs under this flagship brand, reinforcing its status as Australia's largest non-franchised health club brand. This acquisition aligns with the company's guidance numbers for FY2024 and the Q4-2024 run-rate, and is part of Viva's continued growth strategy, which includes plans for 10-15 additional locations to be acquired in FY2024. The company looks forward to welcoming over 5,000 new members to its network and aims to leverage this expansion to further its impact and reach in the health and fitness industry.