Viva bolts on Spain’s Duet Fit
Viva Gym Group, a Bridges Sustainable Growth Funds investment, has completed the acquisition of Duet Fit, a chain of 13 gyms in Barcelona.
Following on from the earlier acquisition of Fitness Hut, the Duet acquisition strengthens Viva’s position as the leading low-cost gym operator in the Iberian region. By the end of this year, combined group will be operating more than 90 sites across the two countries, with over 320,000 members and more than 1,000 employees.
Viva will continue to pursue an ambitious growth strategy, in line with its mission to broaden access to quality health and fitness facilities in Iberia and combat the rise in obesity and related health conditions.
Bridges, which initially invested Viva in 2015, is supporting the acquisition of Duet along with co-investor Hermes GPE and existing lender Ares Management. The investment falls within Bridges’ ‘Healthier Lives’ impact theme.
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