The Colruyt group acquires the 27 rooms of the Jims fitness chain, located in Belgium and Luxembourg. The refund amount is not specified.
Colruyt continues to diversify. The first Belgian distributor arrives to grab Jims’ fitness channel. Surprising at first glance, this acquisition is part of the group’s desire to strengthen its presence in the health niches.
“The acquisition of Jims can be paralleled with the development of our SmartWithFood app and the Colruyt Group Academy offering.”
With the acquisition of Jims, Colruyt intends to “provide a solution to consumers with a view to adopting a balanced and healthy lifestyle”, indicates the group in a statement. “Jim’s redemption can be paralleled with the development of our SmartWithFood app and the Colruyt Group Academy offer consisting in encouraging a healthy and balanced lifestyle, which includes diet and physical activity ”, explains Nathalie Roisin, spokesperson.
The dealer assumes all actions of the fitness group, until now majority owned by the De Clerck family, owner of the Domo group, the other shareholder is the founding chief Francis Ottevaere.
In 2017 the owners had exposed the chain, the arch-rival Basic Fit. Who was opposed to the end of not receiving. For them, Colruyt’s takeover is undoubtedly timely.
Well rooted in big cities
No financial details of the deal, reached last Friday, have been disclosed. Colruyt is content to indicate that this transaction will not have a “significant” impact on the result of its financial year 2021/22.
More modest than the Dutch Basic Fit, Jims, which employs around 125 people, has nevertheless grown in size over the years. With a network of 24 cinemas in Belgium and 3 in Luxembourg, it can count on a good presence in the major cities of the country and the Grand Duchy. Without forgetting an online presence, where Jims offers live group classes and digital coaching.
Currently, the fitness group is taking the brunt of the impact of the health crisis and the ban on indoor sports activities. In 2019 it achieved a turnover of 17 million euros, for a gross operating margin (ebitda) of 3.2 million. Figures that no doubt were revised significantly downwards in 2020. As of June last year, CEO Francis Ottevaere expected revenue to drop by at least 15%.
the Jims management will remain in place and will continue to support business growth. “At this stage, we let the current team focus on the reopening, which we hope is the next (in June?), Of the sports clubs,” says Nathalie Roisin.