Swiss Migros invests in German fitness company Inline
The Swiss retailer Migros Zurich invests in the fitness company Inline. The German-based company offers consulting and training services in the fitness and wellness area and with Injoy a franchise system for health and fitness clubs.
The Swiss retailer Migros Zurich (GMZ), respectively its German subsidiary GMZ Germany Holding GmbH, acquired as of 1 January 2014 a share of 30% of the German company Inline Consulting for Fitness and Wellness Facilities GmbH (Inline Unternehmensberatung für Fitness- und Wellnessanlagen GmbH). Inline operates in various fields; the most important is the Injoy Quality Cooperation GmbH. Injoy is franchisor for over 200 health clubs with approx. 200,000 members in Europe, of which Germany is the major market with approx. 170 fitness clubs.
Inline has been in the German market since 1989. Migros Zurich is represented in Germany with the premium fitness format Elements since 2012.
With their strategic alliance, Migros and Inline intend to strengthen and expand their existing cooperation. The commitment by Migros Zurich is a minority stake of 30%. Participation is subject to antitrust clearance by the competition authorities. Both parties have agreed not to disclose the purchase price.
Migros Zurich operates 5 Migros Fitnessparks clubs and 23 Activ-Fitness clubs and, with approximately 70,000 members, Migros Zurich is market leader in its economic territory. Since 2012, the company is present in the German market with the premium fitness brand Elements. The first fitness facility was opened in Munich in November 2012. In 2013, the opening of two more Elements studios followed. Until the end of 2015, seven Elements clubs are planned in a prime city location. Migros was founded in 1925 by Gottlieb Duttweiler. It is the largest retail company in Switzerland, employs over 83,000 employees and has over two million cooperatives. It consists of ten regional cooperatives and owns a total of 550 supermarkets and consumer markets in Switzerland. In 2012, the Migros group achieved a total turnover of over 25 billion Swiss francs. In the area of leisure facilities, Migros operates 60 fitness and spa facilities as well as eight golf courses and 3 sports facilities throughout Switzerland.
Source: Migros Zurich
Picture: Migros Zurich