May 4 (SeeNews) - Romanian chain of gyms Stay Fit Gym said on Tuesday it acquired two fitness centres in Pitesti as part of an ongoing expansion and aims to generate 15 million lei ($3.19 million/3.03 million euro) revenues in 2022.
The company plans to launch up to ten fitness centres in Bucharest and cities with over 100,000 inhabitants this year, it said in a press release.
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The two centres in Pitesti, a city with a population of around 176,000, mark the beginning of the company’s expansion outside of Bucharest.
Following the transaction, Stay Fit Gym took over a customer base of approximately 1,400 members. According to the press release, the goal of the company is to double this number by the end of the year.
Stay Fit Gym also expects to invest approximately 2 million lei in replacing the equipment of the two fitness centres.
Earlier this year, Stay Fit Gym acquired Neby Fitness in Bucharest and plans to invest 750,000 lei in its refurbishment.
At the end of 2021, private equity fund Morphosis Capital became a shareholder in Stay Fit Gym.
Stay Fit Gym was founded in 2012. It is currently the second largest fitness chain in Romania in terms of number of fitnes scentres - ten in Bucharest, along with the two in Pitesti. The company said earlier it booked a turnover of approximately 10 million lei in 2021. According to finance ministry data, Stay Fit Gym recorded 603,000 lei in profit on a turnover of 2.5 million lei in 2020.
(1 euro = 4.94 Romanian lei)