In December 2019, ACT-based Viva Leisure Limited, owner of Club Lime, agreed to acquire 13 Fit n Fast health clubs with the transaction being completed in February 2020. The deal included all of the clubs in the ACT (1) and Victoria (2) as well as 10 clubs in NSW.
Viva Leisure chose not to acquire the remaining 4 Fit n Fast locations after a detailed review of all clubs showed some didn’t meet its strict acquisition guidelines (i.e. financial and operating performance wasn’t strong enough). They have indicated they could acquire those clubs in the future should performance improve to the required levels.
The change of ownership will impact around 21,500 Fit n Fast members who currently pay around $14.80 per week in membership fees. Clubs in the ACT and Victoria will be rebranded to Club Lime while the NSW clubs will remain Fit n Fast.
Viva Leisure also acquired 8 Queensland Healthworks clubs in October 2019 and bought 2 Fitness 24/7 clubs in regional Victoria. This clearly demonstrates their desire to become a significant player in the Australian leisure and fitness industry and de-risk their current dependence on the ACT market. They now own gyms under the Club Lime, Hiit Republic and Fit n Fast brands as well as some smaller brands.