One of the largest sports clubs – MadeinVilnius.lt – has been sold

The largest Lithuanian 24/7 network of sports clubs “Gym Plius” acquired the third largest market player “VS Fitness”, thus expanding its activities not only in the big cities, but also starting operations in Alytus, Marijampole, Mazeikiai and Šiauliai. Also, after the transaction, “Gym Plius” will manage the country’s largest sports club (6.5 thousand square meters), located in Kaunas shopping center “Mega”.

“Today, we got even closer to one of our strategic goals: Gym Plus – accessible to everyone, everywhere and always. Modern, comfortable sports clubs will be available 24 hours a day in four more Lithuanian cities”, says Mantas Badikonis, director of UAB “Gym Plius”.

According to M. Badikonis, UAB “VS Fitness” is a sports club that has accumulated many years of experience in 24/7 operation and provides high-level services throughout Lithuania, so transferring the standards of “Gym Plius” will not be difficult. “VS Fitness” operated in Kaunas, Klaipėda, Šiauliai, Alytus, Marijampole and Mažeikiai.

“It is important to note that nothing will change for the old visitors of the VS Fitness club – their subscriptions remain valid, the access systems to VS Fitness and Gym Plus are similar, so they can continue to visit their favorite club, enjoy sports and, no doubt, after the merger of the two companies experience with even better service. In addition, they will no longer have to bother looking for another club when they visit for work or recreation purposes in another city where “Gym Plus” operates, says M. Badikonis.

Before the merger, “Gym Plius” managed 16 round-the-clock sports clubs in Lithuania, and “VS Fitness” – 8 sports clubs. After the transaction, the number of members of “Gym Plus” will reach 100 thousand, and the number of trainers – about 370.

“We are very happy with this transaction and the future prospects of Gym Plius”, said Arūnas Šuika and Renata Šuikienė, owners of UAB “VS Fitness”, adding that there could not be a better buyer and partner who would provide more value and ensure a better future for the company.

In 2024, “Gym Plus” will open 5 more new sports clubs. It is planned that by 2025 in the second quarter “Gym Plus” will manage 30 sports clubs in Lithuania.

“I would like to congratulate the VS Fitness team, which has created a very modern and one of the most popular fitness chains in Lithuania. I am very happy that today we can congratulate “VS Fitness” for joining the “Gym Plus” and “MyFitness” family. This acquisition is an important milestone for us – we are becoming bigger and stronger in the Baltic countries. I believe that our brands and concepts will have great opportunities outside the Baltic countries as well. At the moment, it’s just a dream, which I hope will come true in a few years,” says Erkki Torn, CEO of MyFitness Group.

The transaction was financed by Estonian investment bank LHV. The buyer was represented by the law firm “Ellex Valiunas”, the transaction was audited by “Deloitte Lietuva”, the seller was represented by the professional association of lawyers “Averus”. The parties agreed not to disclose further details of the transaction.