Dubai-based retail and hospitality group Landmark Group, has acquired the Fitness First franchise business in the Mena region, through its investment arm, Landmark Investments.
The transaction, which has been completed, includes the 100 per cent buyout of the business from current franchisee Awwal Fitness, a Jebel Ali free zone company and part of the Alhokair Group of Saudi Arabia. Alhokair Group is also a major landlord of the Landmark Group in Saudi Arabia.
Fitness First is the largest privately owned health club group in the world with over 540 Fitness First clubs worldwide, reaching 1.4 million members across Europe, Australia, Asia and the Middle East.
"Fitness First is a globally recognized brand with an enthusiastic following, that fits perfectly into our fast growing cluster of retail and hospitality brands," said Micky Jagtiani, Chairman of Landmark Group.
The Mid-East Franchise Business operates 16 Fitness First outlets in Bahrain, Qatar, Jordan, Saudi Arabia and the UAE.
The acquisition comes at the heels of a series of several growth initiatives, marking the continuous diversification of the Group from its traditional fashion retail business.