Stay Fit Gym, the fitness network with the largest city coverage in Romania, announces the complete takeover of a fitness center in Floresti, Cluj County, owned by Best Gym Society. With this acquisition, Stay Fit Gym reached a network of 40 open centers nationwide. The company began an accelerated development process following Morphosis Capital’s entry into the shareholding in December 2021, when the gym network had seven centers opened.
“The acquisition of the new center marks the threshold of 40 fitness centers in Romania, highlighting the accelerated pace of expansion of Stay Fit Gym. At the Floresti center, we will provide subscribers, in addition to the fitness area, with functional training and group classes, the same as in all our centers. The demand for group classes is on a steady upward trend, thus building strong communities around them. We will continue our strategy of growth in all regions of the country by opening centers in cities with a population of more than 50,000 inhabitants, both organically and through acquisition when targeted centers meet our criteria for facilities and location. This plan reflects our commitment to make fitness in Romania accessible to as many people as possible and to promote a healthy lifestyle”, stated Alexandru Lascar, CEO of Stay Fit Gym.
The new Stay Fit Gym in Floresti has an area of approximately 1,400 sqm and is located in the Nova Center office building. Over the next period, investments will be made to develop it by integrating the company’s brand, as well as replacing some of the equipment that no longer meets the quality standards of Stay Fit Gym. This is the second center of the network in Cluj County, after Stay Fit Central Cluj, which opened in March this year. In this city, the company plans to open a new center by the end of 2024.
This year, Stay Fit Gym opened 12 fitness centers, in Mosnita, Balotesti, Braila, Galati, Selimbar, Cluj-Napoca, Pitesti, Vaslui, Miroslava, Giroc, Arad, and Floresti, which involved a total investment of about 32 million lei. Currently, Stay Fit Gym is the fitness network with the largest coverage of cities in Romania, with fitness centers opened in Alba-Iulia, Arad, Balotesti, Bucharest, Braila, Buzau, Craiova, Galati, Floresti, Giroc, Iasi, Miroslava, Mosnita, Piatra-Neamt, Pitesti, Ramnicu Valcea, Sibiu, Selimbar, Vaslui and Voluntari.
The company’s management plans to open 10 more centers this year, to close 2024 with 50 fitness centers in Romania. Regarding the number of subscribers, Stay Fit Gym aims to reach 50,000 by the end of the year.
“We are pleased to have supported Stay Fit Gym in reaching this important milestone for the Romanian fitness market. At the time of our initial investment in the company, our plan was to grow the network from 7 fitness centers to 35 centers in five years. After our active involvement in this industry, we realized the much higher potential for growth, so we achieved this goal in only two and a half years. This accelerated pace of expansion represents an achievement also on a regional level, at this moment Stay Fit Gym being the most aggressively developing fitness company in Central and Eastern Europe. Also, an additional motivation for the partnership with Stay Fit is the sustainability component, as 3 million workouts are performed annually in the network’s fitness centers, which has a significant impact on society and people’s health,” stated Adrian Netea, Investment Director, Morphosis Capital.
In 2023, Stay Fit Gym had revenues of 41 million lei, double the 2022 figure. For this year, the company is targeting revenues of around 76 million lei based on its expansion and organic growth strategy.
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About Stay Fit Gym
Stay Fit Gym, founded in 2012 by three Romanian entrepreneurs – Alexandru Lascar, Marius Preodisteanu and Laurentiu Lascar, is currently the fitness network with the largest city coverage in Romania. Currently, the company operates 40 open centers in 19 cities in Romania and offers a wide range of services to people who do physical activities, such as aerobics and functional training classes, personal trainer and sauna. All 40 fitness centers are equipped with state-of-the-art equipment.
