Virgin Active
 |
|
| Limited | |
| Industry | Health club, gym |
| Founded | Preston, Lancashire, United Kingdom (1998) |
| Founder | Richard Branson |
| Headquarters | Milton Keynes, England |
|
Number of locations
|
275 total 96 (UK) 121 (South Africa) 30 (Italy) 11 (Spain) 4 (Portugal) 6 (Australia) 1 (Singapore) 3 (Thailand) 2 (Namibia) 1 (Botswana) |
|
Area served
|
South Africa, Namibia, Italy, Spain, Portugal, Australia, UK, Singapore, Thailand |
| Owner | Christo Wiese (80%) Virgin Group (20%) |
| Slogan | "Live happily ever active" |
| Website | www |
Virgin Active is a chain of health clubs in South Africa, Namibia, Italy, Spain, Portugal, Australia, Singapore, Thailand and the United Kingdom.
History
The company launched in 1998[1] in Preston, Lancashire[2] as part of Richard Branson's Virgin Group, headquartered in Milton Keynes. In 2013 the offices were move to Barbican in London leaving a small call centre in MK.
In South Africa the company bought the assets of the 'Health and Racquet Club' chain after the latter's parent company, Leisurenet, had been placed in liquidation in October 2000[3] for 319.6 million South African Rand (approximately £24.5m as at November 2011).[4] The South African company also runs Virgin Life Care.
In 2002, by which point the company had 350,000 members, Branson sold 55 percent of the company to Bridgepoint Capital for £40 million.[2] In 2005, Branson bought out Bridgepoint's stake in the business for £134.5 million.[5]
It subsequently expanded its operations in 2004 to Italy.[6] By 2005 the company had 25 clubs in the UK, 77 clubs in South Africa and 12 clubs in Continental Europe.[5] It opened its first Australian club in Sydney in late 2008,[7] with further clubs launch in Singapore and Thailand in 2015.
On 1 November 2006 it took over the UK-based operation of the more prestigious Holmes Place chain, thus increasing its UK chain of clubs from 24 to 72 overnight.[8]
On 26 April 2011 it announced the takeover of UK gym operator Esporta's 55 clubs increasing the UK business to 124 clubs.[9]
The current Group CEO is Paul Woolf, who succeeded founder Matthew Bucknall in late 2013.
In 2014 Virgin Active launched a new low-cost gym called Virgin Active RED in South Africa. The RED gyms focuses on first timers who may be intimidated by training by strategically placing exercise equipment in different stages around the gym and further having touch screen computers and other technologies placed in these predefined area's teaching the user how to do the exercise correctly.
On 16 April 2015, it was reported that Virgin Group and their private equity backers had sold 80% of Virgin Active to the South African investment firm Brait, owned by the billionaire Christo Wiese. The sale price was £682 million for an 80% stake, valuing the business at £1.3 billion, including debt, and the transaction was completed in July 2015. The company will continue to operate under the Virgin Active brand.[10]
References
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External links
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