Injoy takes over ACTIC clubs in Germany

ACTIC and INJOY have entered into an agreement according to which ACTIC’s German subsidiary, Actic Fitness GmbH, including its 21 German and one Austrian club, is sold to INJOY Quality GmbH (a company within the ACISO group). The purchase price amounts to EUR 3.3 million.

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ACTIC and INJOY have agreed to sell and acquire respectively all shares in Actic Fitness GmbH on the terms set out in the share purchase agreement. The shares must be transferred to the buyer on the closing date, which according to the share purchase agreement means five working days after the agreement enters into force, planned to March 23, 2023. Total purchase price amounts to EUR 3.3 million, of which EUR 2.6 million in cash on the day of closing, EUR 0.5 million divided between two equal-sized debentures with maturities of three and nine months, respectively, and EUR 0.2 million linked to an earnout model calculated on an expected EBITDA result for 2023.

"We are happy to announce that we have completed this transaction in line with established strategy of increasing focus on our home markets, namely Sweden and Norway", says Anna Eskhult, CEO of Actic Group AB.

"Although Germany is an interesting market, it is also quite different than Sweden and Norway both when it comes to size and consumer behavior. By selling our German clubs and the Austrian stand alone club to INJOY we free up resources both financially and administratively to increase focus and speed in our home markets development, building stronger and better clusters of clubs and services to attract even more members", Anna adds. Quelle: ACTIC Bild: ACTIC

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