Fitland is the third largest fitness operator in the Netherlands with 37 clubs
Acquisition solidifies Basic-Fit’s position as the leading fitness operator in the Netherlands
Acquisition is expected to be earnings accretive in 2020
Hoofddorp, 24 April 2019 – Basic-Fit N.V. (Euronext: BFIT), Europe’s largest and fastest growing fitness operator, has reached an agreement with Fitland, the third largest fitness operator in the Dutch market by number of clubs, for the intended acquisition of all its 37 clubs.

By adding the third largest fitness operator in the Dutch market to its network, Basic-Fit further solidifies its leading position in the Netherlands. Basic-Fit intends to fully integrate nearly all the Fitland clubs in its network and create a network in the Netherlands of close to 200 Basic-Fit clubs. A limited number of clubs is expected to be sold.

Fitland operates 37 mid-market fitness clubs across the Netherlands. With over 56,000 members, privately owned Fitland realises an annual revenue of approximately €21 million.

Rene Moos, CEO Basic-Fit: “With this intended acquisition, we secure our leading position in the Dutch market. Whilst most of our club openings took place in France during the past years, we now have an exceptional opportunity to extend our position and network in the Dutch market, our country of origin. We are pleased to add the Fitland clubs to our existing network of 161 clubs and believe this acquisition is attractive to the shareholders, members and employees of both Fitland and Basic-Fit.”

Peter Peters, CEO Fitland: "The intended acquisition by Basic-Fit is a great opportunity to become part of the leading fitness operator in the Netherlands. Being part of a larger international network, with a strong brand recognition, offers great opportunities to our employees and our members. We are excited to become part of the growth story of Basic-Fit and together shape the future of fitness in the Netherlands."

Transaction details
The acquisition consideration, including the rebranding and refurbishment of the Fitland clubs per acquired club is expected to be similar to the initial investment for building a new Basic-Fit club. Basic-Fit will use its existing bank facilities to finance the acquisition. It is expected that the acquisition will be earnings accretive as of 2020.

The transaction is subject to completion of the consultation of the works councils of Fitland and Basic-Fit and is expected to be completed in July 2019.

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