Fit Crew signed a basic agreement with VALX for the acquisition of the businesses of 5 VALX 24-hour gyms and a capital and business alliance. The agreement will expand its portfolio of locations and advance a joint growth strategy.
Fit Crew announced on 5 October that it had signed a basic agreement with VALX for the acquisition of the businesses of 5 24-hour fitness gyms operated by VALX under the VALX GYM brand and a capital and business alliance. The locations covered are Musashi-Koyama, Mizonokuchi, Chofu, Kinshicho and Fukuoka Tenjin.
Through the alliance and business acquisition, Fit Crew will pursue synergies in marketing and products by strengthening brand recognition and leveraging its strengths in the direct-to-consumer sector, while diversifying its portfolio of locations and stabilising its earnings base.
Going forward, Fit Crew aims to expand its customer base by entering the 24-hour gym sector, while combining its expertise in operating physical locations with VALX's product development and marketing capabilities to optimise customer acquisition costs and maximise member lifetime value.
Fit Crew said it would continue to develop a diversified business in the healthcare and fitness sectors with the aim of increasing corporate value.