28th May 2020,
Anytime Fitness Asia has been purchased by Inspire Brands Asia, a consortium of its top sub-master franchisees in Malaysia, the Philippines and Singapore, as well as lead investor Exacta Capital and co-investor Aura Group.
The acquisition includes the master franchisee license in Singapore, Malaysia, the Philippines, Indonesia, Thailand, Taiwan, Vietnam, Hong Kong, and Macau, with over 350 locations sold and over 250 gyms opened.
Their owned gyms and gym management businesses were also merged into the group, which operates over 30 per cent of the brand’s footprint in Asia. In the last four years, Anytime Fitness Asia recorded compound annual growth rates of 49 per cent in franchise sales and 55 per cent in gym openings
Luke Guanlao, Inspire Brands Asia group CEO and Anytime Fitness Asia COO said: “I have been with Anytime Fitness for over 10 years, and we are positioned strongly to take advantage of opportunities that will open up as our gyms reopen and we navigate a new normal after this pandemic.”
Johannes Raadsma, chief growth officer at Anytime Fitness Asia, states, “Hong Kong’s reopening shows that usage is as strong as it was pre-COVID-19. 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.”
Anytime Fitness Asia will continue to be headed by CEO Rey Bolivar. Bolivar said: “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. We look forward to welcoming members as we reopen, and welcoming opportunities as they come.”
Anytime Fitness Asia is the fastest-growing and only regional master franchisee of the Anytime Fitness brand. It currently has over 370 territories sold and over 250 gyms open in Hong Kong, Macau, Indonesia, Malaysia, the Philippines, Singapore, Taiwan, and Thailand, and is preparing to open its first gym in Vietnam.
Source: Global Franchise
Full Article: https://www.globalfranchisemagazine.com/news/anytime-fitness-asia-acquired-by-inspire-brands-asia
