THE fitness chain founded 20 years ago by former Dragons Den star Duncan Bannatyne has made it first investment in Northern Ireland.
His Bannatyne Group has acquired the 3,700-member Virgin Active Health club in Holywood for an undisclosed sum, and intends to spend £1.2 million on an immediate upgrade of its facilities.
And it has emerged that Bannatyne - who visited Belfast earlier this month to personally oversee his new acquisition - sees Ireland, north and south, as potential rich pickings for the group’s expansion programme in the coming years.
"This is the first health club to be owned by the Bannatyne Group in Northern Ireland and marks an important step in its investment strategy as it expands beyond the UK mainland," the company said.
The addition of Holywood takes the total membership at Bannatyne Health Clubs' 71 sites to more than 210,000.
The club on the Belfast Road has an advanced gymnasium, cycle studio, a luxury spa, sauna facilities and a 20-metre swimming pool with children’s pool.
Members and staff will see a seamless transfer to the Bannatyne Group, which intends t0 bring the latest equipment and services to members, including Techogym, MyZone and the innovative B:360 wristbands.
Justin Musgrove, chief executive of Bannatyne Group, said: “The club is a perfect fit with the high quality and wide-ranging services we offer members.
"This is our first investment beyond the UK mainland and we are delighted that its committed team of staff will be joining the Bannatyne Group, enabling us to grow and develop the excellent service they provide at a popular club with a strong membership base.”
He added: “Bannatyne Group is in an acquisition and growth phase and has significant resources to draw upon to fund the right deals.”
Entrepreneur Duncan Bannatyne's personal worth is estimated to be in the region of £220 million.
