There will be many people in the industry surprised by this week’s news that Energie Fitness Clubs has submitted a bid of circa £120 million to acquire Bannatyne’s Health Clubs. There are 36 Bannatyne clubs looking after about 100,000 members.
Bannatynes was formed by the `Dragon`, Duncan Bannatyne. However, it now seems that Duncan wants to move onto gambling with his casino plans, oh and acting…and hotels…and housing…and bars, all under the catchy name of `Bannatynes!` Oxygen has been working with Energie for the last two years. I undertake due diligence on any health clubs they are looking to acquire. Jan, their Chief Executive is also writing one of the chapters in my forthcoming `Mastering Health Club Management book`. More news to follow over the next few weeks.