Inspire Brands Asia has acquired Anytime Fitness Asia, signalling its belief that people will return to gyms as they begin to reopen across the continent.
Inspire Brands Asia is a consortium made up of Aura Group, Exacta Capital and a number of sub-master franchisees from across Malaysia, the Philippines and Singapore.
The deal will include more than 250 existing gyms and a further 100 plus already sold locations. It will include the transfer of master franchisee license for Anytime operations in Singapore, Malaysia, Philippines, Indonesia, Thailand, Taiwan, Vietnam, Hong Kong, and Macau.
Anytime Asia’s owned gyms and gym management businesses have also been merged into the group.
“Hong Kong’s reopening shows that usage is as strong as it was pre-COVID-19,” Johannes Raadsma, chief growth officer, Anytime Fitness Asia.
“With our track record in gym management, we can support operators and investors in a profitable business that also welcomes people into a new and healthier lifestyle.”
Charles Wong, executive director of Aura Group, added: “Completing the deal in this black swan backdrop, involved assessing the brand’s capacity to withstand enforced closures, and a long-term outlook on the industry.
“Anytime Fitness Asia capitalises on its smaller footprint in accessible community locations and lower cost of entry and maintenance, which ensures that gyms will reopen safely and grow post-COVID-19.
“The brand, the model, and the experience of our partners are why we at Aura are privileged to be part of this landmark deal.”
In the last four years, Anytime Fitness Asia has reported compound annual growth rates of 49 per cent in franchise sales and 55 per cent in gym openings.
The business will continue to be headed by CEO Rey Bolivar.
“Our lives have changed, and Anytime Fitness Asia is prepared to change along with the times to support our members, staff, and franchisees beyond the crisis,” Bolivar said.
“We look forward to welcoming members as we reopen, and welcoming opportunities as they come.”