Partnership between Club Méditerranée and 21 Centrale Partners for the development of Club Med Gym

June 09, 2008

Group Club Méditerranée has announced the entry of private equity group 21 Centrale Partners in its subsidiary Club Med Gym. 21 Centrale Partners and the management will take a 80% stake on the basis of a 74 M€ value for the equity.

Now that it has pursued a successful and profitable repositioning, this transaction should ensure the development of Club Med Gym for the mid to long term, in particular through the continued improvement of existing fitness clubs and the opening of new clubs in Paris under the Club Med Gym and Waou brands. The opening of two new Clubs in the next three years is already planned.
Club Med will grant Club Med Gym a license agreement for the use of its brand.

Henri Giscard d’Estaing, CEO of Club Mediterranée said: «Today Club Med wishes focus its resources to become the world specialist in high end, all included, friendly and multicultural holidays. We have managed to refocus Club Med Gym and we have today the opportunity to accelerate its growth while maintaining the synergies for our villages and reinforcing our resources to grow our core activities.» 

Gérard Pluvinet, Founding Managing Partner of 21 Centrale Partners said: « Alessandro Benetton and myself are delighted by this strategic partnership with Club Méditerranée. We will work together with the management teams to reinforce and grow the Club Med Gym network while preserving a quality policy to meet client expectations».

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