Basic-Fit buys clubs in Germany and Austria for 26 million

The fitness giant Basic-Fit has announced the acquisition of the Austrian gym chain Speedfit, which includes eighteen locations, and eight clubs from the German operator Kraftwerk. This deal, valued at 26 million euros, involves approximately ten thousand members who will be transitioned to the Basic-Fit model. The company plans to rebrand and convert all these newly acquired gyms into its own branded locations over the coming period to ensure consistent pricing and operations.

This strategic expansion is intended to bolster Basic-Fit's position in Central Europe, moving the firm closer to market leadership in Austria where its footprint will increase from 33 to 51 clubs. In Germany, the acquisition brings their total count to 122 facilities, following previous growth earlier this summer. Basic-Fit currently maintains its status as Europe's largest fitness operator, managing a network of over 2,150 locations and serving more than six million subscribers across the continent.