Group3S, a multi-brand franchisee of Keep Cool, has formulated an offer to take over a majority stake in the company behind one of the largest French fitness club brands.

The offer was arranged in consultation with Groupe EREN, which is already a minority shareholder, with an objective to round off the transaction before the end of the year.

While declining to provide details, the potential buyers said that the offer has been favourably received by shareholders and banking partners. It comes with “an ambitious development plan” for the next three years, which aims to turn Keep Cool into one of the French market leaders.

Owned at a majority by its founder, Guy Deville, Keep Cool has expanded rapidly in the last years, turning into a group of about 260 gyms with 380,000 members around France. Most of them are franchises but Keep Cool has invested heavily to build up a group of own clubs.

This is one of Fitness News Europe's many exclusive stories, featured in full in FNE#91.