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Article: Holmes Place merger to create gym giant.
- Article from:
- The Evening Standard (London, England)
- Article date:
- September 4, 2002
- Author:
CopyrightCOPYRIGHT 2002 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: FIONA WALSH
A NEW high street gym giant is to be created with the planned merger of two of the countries biggest health club operators, it was announced today.
Health clubs group Cannons is to launch a [pound]200 million-plus takeover bid for its rival Holmes Place in a move that will create a major new force in the increasingly cut-throat fitness industry.
Holmes Place has welcomed the proposed offer, which it says will be launched formally in the next four to six weeks. The deal will see the creation of a chain of "super" health clubs dominating the market place.
The move is also being seen as protection against a threatened ...