Press Office

Esporta Announces Disposal Of Three Non-Core Clubs To Virgin Act

Date: 8 Dec, 2004

Premium national health club operator, Esporta has sold three of its non-core clubs to Virgin Active in a transaction worth £1.25m.

The deal comes as part of Esporta's ongoing commercial strategy to focus on developing its racquets and premium businesses through acquisition new build and will add further to the £100m development fund provided by Esporta owner Duke Street Capital earlier this year.

The three clubs sold are located in Milton Keynes, Edinburgh and Finnieston, Glasgow.

Commenting on the deal chief executive Neil Gillis said: "Our analysis of our market and member base has shown that the Esporta approach works best in our top premier sites. 

"Before Virgin Active approached us we earmarked these three clubs as being prime for disposal in line with our ongoing commercial objectives.  We are focusing on our truly premium businesses and sites which have potential for development in meeting the demanding requirements of up-market health and fitness members."

"We are currently looking at other sites for acquisition which fit with our commercial model and we hope to be able to announce the location of new Esporta sites in the next few months."

Ends
For further information please contact:
Joanna Randall/Catherine Humphries, Corixa Communications,
0117 949 3394
Email: Joanna.randall@corixa.co.uk / Catherine.Humphries@corixa.co.uk
Date of issue: 8 December 2004