February 28 (SeeNews) - Romanian gyms chain Stay Fit Gym said on Monday it acquired Bucharest fitness center Neby Fitness and plans to open ten new gyms this year.
The new fitness centre is the eighth Stay Fit Gym location and will be fully integrated into the company's network, Stay Fit said in a press release.
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This year, the company plans to open up to ten fitness centers in Bucharest and in cities with over 100,000 inhabitants.
In March, the company will launch its ninth location in the Colosseum Mall. This fitness centre will be the largest in the Stay Fit Gym network, with a total area of over 1,600 sq m, and will require an investment of 3 million lei.
"With the completion of this transaction, we will invest approximately 750,000 lei ($169,400/151,600 euro) in the complete renovation of the centre," Stay Fit Gym CEO Alexandru Lascar said.
In 2022, Stay Fit Gym targets revenues of over 15 million lei as interest in a healthy lifestyle grows. In 2021, Stay Fit Gym estimates it booked a turnover of approximately 10 million lei.
Stay Fit Gym was founded by three Romanian entrepreneurs in 2012. In December 2021, private equity fund Morphosis Capital acquired a majority stake in Stay Fit Gym.
(1 euro=4.9479 lei)