News 06.07.2007
Olga Sloutsker unites three Russian leading fitness clubs chains The biggest merger of fitness clubs in Central and Eastern Europe was announced today.
Moscow, Russia, 6th July 2007 – The Russian Fitness Group the owner of World Class and FizKult brands has announced amicable merger with MaxiSport sport clubs chain, which works under the Reebok system.
The number of fitness clubs under control of the Russian Fitness Group (RFG) will thus exceed 40 operating in Russia and the CIS. The total client base will reach about 100 thousand members. The merger will reinforce the Group’s leading position in Russia and CIS. The overall growth rate of the united company will allow it to retain and strengthen its leading position.
"The merger of World Class and FizKult with MaxiSport is an unprecedented deal not only for the Russian fitness industry, but also for Central and Eastern Europe. It is considered to be a great achievement for the Russian Fitness Group and for myself as well", says Olga Sloutsker, Chairwoman and CEO of the Russian Fitness Group and President - World Class, FizKult.
"The choice of MaxiSport was strategic, as out of all the national fitness chains we believe. Only MaxiSport best meets Russian Fitness Group’s high requirements. We looked for the scale of business, training staff’s professionalism and corporate reputation", Olga Sloutsker comments.
"In six years our team created a chain of eight MaxiSport fitness clubs working under the Reebok system. I am very glad that I found such partners as Olga Sloutsker and the Russian Fitness Group who share my passion to accelerate the further development of the fitness club chain. With our efforts united under one team we will attain outstanding results and will retain leadership in the fitness industry", Maxim Ignatiev, CEO, MaxiSport, commented.
Mr. Ignatiev will become partner and member of the Russian Fitness Group Board.
«Recently we celebrated our one year of strategic partnership with Mrs. Sloutsker and World Class. During this time World Class and FizKult not only have reached the goals of expanding the network, but also have exceeded our expectations. We see the merger with MaxiSport as a perfect example of how market leaders can efficiently cooperate with the purpose of further development of the fitness industry in Russia", Richard Sobel, Chief Executive Officer, Alfa Capital Partners emphasized.
Currently the deal is already at the last stage of the final legal settlement. Parties do not disclose financial and legal aspects of the merger.
Contacts for press:
RFG Ltd.Marina Vasiltsova, Head of Marketing and PR +7 (495) 771 66 00; reklama@wclass.ru
AlfaCapitalPartnersNadezhda Svechnikova, Marketing Officer+7 (495) 775 18 28; nadya@alfacp.ru
Russian Fitness Group
Established in 2007 to unite the premium World Class and the mass market FizKult fitness clubs chains.
The Russian Fitness Group will also own MaxiSport fitness clubs chain after the amicable merger deal execution.
RFG will become no.1 in the fitness industry operating more than 40 fitness clubs in 11 cities across Russia and CIS with more than 100 thousand members and group staff will reach 3 200 trainers and managers.
Russian Fitness Group will:
• own the brands World Class, FizKult and MaxiSport
• develop strategies for fitness clubs
• create and secure fitness services quality standards
• interact with financial institutions.
Olga Sloutsker is a Chairman and CEO, Russian Fitness Group.
www.worldclass.ru www.fizkult.ru
World Class fitness clubs chain
The World Class brand was launched in Russia in 1990.
In 1993 the company opened the first fitness club in Moscow which corresponded to world class requirements. This date is considered to be the birthday of the fitness industry in Russia and the CIS.
World class is the biggest in Russia and is one of the leaders of the world fitness industry. The number of club members overpasses 60 thousand people.
World Class is the only Russian company in the list of the world’s best 25 fitness club operators (Source: Global 25 international fitness clubs rating)
The signing of the partnership agreement with Alfa Capital Partners in 2006 strengthened World Class positions in the market and empowered the company to accelerate growth rates.
The average annual World Class turnover growth is 40-50%
Olga Sloutsker is founder and the president of the World Class chain of fitness clubs.
Dmitry Babanov is the General Director of World Class.
www.worldclass.ru
Fitness group FizKult
FizKult company represents a democratic chain of fitness clubs aimed at the mid-segment fitness industry market. It was founded in 2006.
The main peculiarity of the chain is a democratic price policy, which provides all spectrum of fitness-services to the mass consumer. At the moment FizKult network already counts about 20 000 fans of fitness and a healthy way of life.
A new business project realization became possible due to the strategic partnership agreement between Russian Fitness Group and Alfa Capital Partners. The clubs are already opened in Moscow, St.-Petersburg, Rostov-on-Don and Saratov.
The founder and the President of FizKult clubs is Olga Sloutsker.
FizKult General director is a master of sports of Russia, the Olympic champion, the sixfold world champion in fencing - Pavel Kolobkov.
www.fizkult.ru
Fitness group MaxiSport, working under Reebok system
Founded in 2001. At the moment the network totals 8 clubs, an overall area of 25 000 square meters, number of club members - more than 20 000.
MaxiSport originates from a world renowned chain of sports clubs - Reebok.
Average annual growth of MaxiSport is 40-50%.
The founder and general director of the network is Maxim Ignatev
www.maxisport.ru
Alfa Capital Partners
Alfa Capital Partners, a leading Moscow-based private equity and real estate investment group, manages US$701 million in capital from international institutional and private investors alongside capital from Alfa Group. ACP is the regional manager for a US$180 million OPIC-sponsored Maritime Infrastructure Fund, the manager of a US$200 million private equity fund, Alfa Capital Private Equity, L.P., and the co-founder and joint manager of the Marbleton Property Fund, L.P. ACP seeks to invest in leading companies in Russia, Ukraine and the CIS.
Alfa Capital Partners is an affiliate of Alfa Group, one of Russia’s largest financial industrial groups. For more information on ACP, please visit www.alfacp.ru |
