15 Nov 2017
Bannatyne completes 'multi-million pound' Wildmoor deal
BY Deven Pamben
The Bannatyne Group has added Wildmoor Spa and Health Club in Stratford upon Avon, Warwickshire, to its portfolio after purchasing the business for an undisclosed sum.
The acquisition takes the number of sites the group runs to 70 and is its third purchase this year – in June it bought Virgin Active Humberston, in Lincolnshire, and in August it bought Weybridge Health Club and Spa, in Surrey.
“This multi-million-pound deal was funded from Bannatyne Group’s profits with the support of RBS, which has shown great confidence in our current expansion programme," said Bannatyne Group chief executive Justin Musgrove.
“The Wildmoor Spa and Health Club represents exactly the type of facility that fits into our growing portfolio of health clubs and spas.”
Wildmoor, which has 2,500 members, was developed by the Bird family and opened in 2005 as an upscale health club and spa comprising a 20m swimming pool, gym, dance and activity studios, a café, together with three floodlit all-weather outdoor tennis courts.
The spa provides a caldarium and flotation rooms together with relaxation areas, offering a range of treatments.
This year it began a £1m (US$1.3m, €1.1m) refurbishment programme which involved revamping the fitness facilities and fitting the gym with new equipment.
In a joint statement, long-term owners Tony and Brian Bird said: “Over the years, we have received a great deal of interest in the club from prospective buyers, but it was only when approached by the Bannatyne Group that we seriously considered a sale.”
Christie and Co brokered the deal, with the Bannatyne Group represented by Ward Hadaway and the Bird family by RDP Law.
Close Window