Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-Two sets of merger talks promise to galvanise the long-awaited consolidation of the UK health and fitness industry and accelerate expansion into continental Europe.

Cannons is in exclusive negotiations to buy its quoted rival Holmes Place for 220p a share valuing the company at £350 million ($549 million).

Meanwhile in a separate development private equity firm Duke Street Capital is in talks to buy Invicta Leisure for £140 million ($220 million).

This will enable Duke Street to merge Invicta with Esporta, the health club chain Duke Street bought a few weeks ago for £145 million ($228 million). The combined business will have 18 raquet clubs and 42 health and fitness clubs.

Holmes Place, which owns 66 clubs, including 49 clubs in the UK, and Cannons, which operates about 45 clubs, will maintain their separate brands. The merger is likely to see some of the UK health clubs close but will enable Holmes Place to accelerate its expansion in continental Europe where the market is less saturated in the UK.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.