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10 July 2015: Virgin Active acquires DownTown, adding three more clubs to its Milan portfolio
Virgin Active, the leading international health club company and Italy’s market leader, today announced its acquisition of DownTown, adding three more clubs to its Milan portfolio.
Having grown to 30 clubs throughout Italy since its first club opened in Genoa in 2004, Virgin Active has improved its offering in the heart of Milan where it will now operate 11 clubs. The acquisition is the next step in Virgin Active’s strategy to locate world class facilities in key metropolitan areas, and will complete by the end of July.
The three clubs – Skorpion (to be renamed Vittorio Emanuele), Diaz and Cavour – will collectively receive €5m investment to upgrade facilities. Members will benefit from the introduction of cutting edge equipment and leading product innovations. These will include Anti-Gravity Yoga and The Grid, Virgin Active’s new and exclusive approach to functional training designed to get people moving better, faster and more effectively.
Luca Valotta, President of Virgin Active Continental Europe, said:
We are delighted to be expanding our offering in the centre of Milan, one of Europe’s most exciting cities. This move is the next step in our successful growth in Italy, where we are focused on bringing Virgin Active to prime sites in key metropolitan cities.
"This will give new and existing members even more opportunities to workout close to home and work, and to enjoy our outstanding service and facilities. We are looking forward to welcoming DownTown’s staff and members into the Virgin Active family!”
The Vittorio Emanuele club will join Virgin Active’s exclusive Classic Collection, alongside Corso Como, one of Milan’s most fashionable places to work out. Members of the Classic Collection have access to 17 of the best clubs in the world in cities like Bangkok, London and Johannesburg, as well as all of Virgin Active’s 267 clubs worldwide.
This transaction comes off the back of strong Virgin Active performance for the year ending 31 December 2014, which saw underlying EBITDA for Europe, which includes the UK, growing by 17%. Membership in Italy increased by 7% for the year.