Virgin Active enters Germany with EUR 135m deal for Holmes Place's 13 clubs

Virgin Active, the international premium fitness and wellness club operator, has agreed to acquire Holmes Place Germany for a total cash consideration of EUR 135 million, the company announced on 9 November 2026. The business operates 13 premium clubs in Berlin, Düsseldorf, Hamburg, Cologne, Essen and Lübeck, and gives Virgin Active its first presence in Germany.

Virgin Active signed the agreement on 30 October 2026. It is unconditional, and completion and transfer of ownership are scheduled for mid-December 2026. Investment company Brait, a Virgin Active shareholder, also published the announcement, Reuters reported.

The deal

The seller is a joint venture between Holmes Place Europe and funds controlled by AUCTUS Capital Partners, the Munich-based private equity firm, which have jointly owned Holmes Place Germany since 2016. Virgin Active says it will fund the purchase from existing cash following a rights issue to its shareholders in October 2026. The price is subject to customary completion adjustments.

On a pro forma basis, Holmes Place Germany will contribute about 14% of Virgin Active Group's 2026 EBITDA, according to the company. Virgin Active argues that buying an established, profitable estate costs significantly less than building an equivalent network and removes the risk and time of a start-up phase.

Virgin Active was advised by A&O Shearman in Frankfurt on legal matters and Grant Thornton Germany on tax and financial matters. RSM Ebner Stolz said it advised Holmes Place Europe and AUCTUS on the sale.

Why Germany

Virgin Active describes Germany as Europe's largest fitness market, with 12.4 million members. Citing the European Health & Fitness Report 2026, it says the premium segment is forecast to grow 9.3% to 2028, and that the German market remains highly fragmented and underpenetrated compared with other European countries.

"Our entry into Germany is an important milestone in Virgin Active's global expansion in the premium wellness segment," said Dean Kowarski, Group CEO of Virgin Active. "We see significant further opportunity in Germany and the wider DACH region." The deal follows Virgin Active's recent acquisition of its first club in Lugano, Switzerland, and a planned first club in Vienna in early 2027.

What changes for members and staff

Virgin Active says there are no immediate plans that will affect members or colleagues after completion, and that integration will be gradual. The existing Holmes Place Germany management team, led by chief executive Doron Dickman, will stay. Over time, Virgin Active plans to introduce its Social Wellness Club concept, which combines training, recovery and spa areas, group exercise, co-working and social spaces, across the German clubs.

Virgin Active currently operates 224 clubs in 10 countries, including the UK, Italy, South Africa, Australia, Singapore and Switzerland, and serves more than one million members. According to the announcement, Holmes Place Europe's portfolio includes the Holmes Place and EVO Fitness brands, with more than 60 clubs across Germany, Austria and Switzerland.

What it means for founders and investors

For the fitness and wellness sector, the deal is a clear example of consolidation at the premium end of a fragmented market. Virgin Active is paying for scale and a ready-made network rather than building clubs one by one. For a private equity owner such as AUCTUS, which says it has completed more than 470 investments using buy-and-build strategies, the sale shows how a platform built over about a decade can be exited to a strategic buyer.

For founders building wellness technology, booking software or preventive health services, the transaction signals continued investment appetite for physical, premium club formats. Virgin Active explicitly frames wellness as preventative healthcare, and large operators with hundreds of sites are natural customers and partners for health and fitness startups. Related coverage: Frasers took majority control of Hugo Boss last month.

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