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Nuffield buys De Vere gyms
HOTELS group De Vere has sold its 15-strong gym business to healthcare charity Nuffield Health for an undisclosed sum.
The acquisition of Greens Health & Fitness brings Nuffield’s overall membership up to around 300,000 people across 66 gyms and 200 business locations, making it the sixth-largest provider of fitness services in the UK, the charity said.
De Vere, the owner of Cameron House on Loch Lomond, last year said it would continue with asset disposals. It added that Greens had a “challenging year” in 2010.
In the same year, De Vere agreed a £650 million debt-for-equity swap with lender Lloyds Banking Group. In September 2011, De Vere’s founder and chief executive, Richard Balfour-Lynn, alongside chief financial officer, Jag Singh, left the group.
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