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Talwalkars Better Value Fitness has acquired a majority stake in a Chennai-based fitness chain.
Talwalkars informed the BSE that it has taken a 51 per cent stake in Inshape Health and Fitnez Pvt Ltd through an all cash-deal.
Increased presence This acquisition strengthens Talwalkars’ presence in Chennai as it will jointly run eight gyms along with the Inshape management, which is familiar with the local market, it said.
Inshape caters to the middle and upper-middle income group and has a membership of over 2,000 across three outlets.
According to information available on Talwalkars’ website, the company, with an annual revenue of about ₹ 225 crore, has a countrywide network of 146 branches with a total membership of over 1.25 lakh.
A Cogencis report pegged the deal size at ₹30-35 crore.
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