Sats Group has finalised the rebranding of the Fitness DK clubs acquired in Denmark, which could mark the start of an eventful year for the Nordic group with a potential initial public offering (IPO) in the second half.
Since it was formed through a tie-up between Sats and Elixia in 2014, the Sats Group has been steadily re-arranging the estate to capitalise on investments in the Sats brand, and to provide a clearer group offering to its members.
The group said last year that it had decided to convert Elixia gyms in Norway to the Sats brand, and it started to turn Fresh Fitness clubs in Sweden into Sats Base – allowing Fresh members to continue training at cheaper prices, while providing more facilities for Sats members. The same strategy was implemented on a trial basis in Finland and in Norway.
Fitness DK, the second-largest Danish operator with 41 clubs, was acquired from Parken Sport & Entertainment for 100 million Danish kroner (€13.4m) last June, to form a group of about 240 gyms with 660,000 members in four Nordic countries.
Sondre Gravir, who became the group’s chief executive last October, said that all of the Danish clubs were rebranded earlier this year and they adopted some of the group’s strategic tools, such as its retail offering and its membership app.
“Since we have launched our membership app in Denmark a few weeks ago it has more users than the previous app ever accumulated,” Gravir said this week. The Fitness DK brand is disappearing from the clubs and online.
Børsen, a Danish newspaper, reported earlier this month that the group would be investing about DKK 80 million (€10.7m) this year in the Danish operator.
Read the full story in FNE#74.
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