AXA Private Equity announced Tuesday that it has bought a 22% stake in FitnessBoutique. Financial terms were not announced. FitnessBoutique, of Grenoble, France, sells fitness equipment and food supplements in Europe. AXA Private Equity is part of AXA Investment Managers.
AXA Private Equity, the leading European diversified private equity firm, announces that it is acquiring a 22% stake in the capital of FitnessBoutique, the on and off-line specialist in the sale of fitness equipment and food supplements.
AXA Private Equity will support, FitnessBoutique as it accelerates its organic growth over the next 18 months, with the aim of becoming a market leader in Europe in the rapidly-expanding Fitness industry.
Founded in 1999, the Grenoble-based business, FitnessBoutique.fr, was the first company to operate a website in France dedicated to fitness, training equipment and dietetic products. A leader in the French market, the company has expanded across Europe into Spain, Italy, Portugal, Belgium and Switzerland.
Thanks to the strength of its brand, FitnessBoutique has also successfully built up a network of stores throughout France. The Group currently has 19 shops located in major cities including Paris, Lille, Lyon, Grenoble, Bordeaux, Marseilles, Montpellier and Toulouse.
Laurent Foata, Director at AXA Private Equity, said:
“The fitness market is a sector currently experiencing rapid growth across Europe. We are delighted to be working with Stéphane and his talented entrepreneurial team at FitnessBoutique for this key stage in the company’s development.”
Stephane Viscuso, Director and Founder of FitnessBoutique, said:
”In AXA Private Equity we have found a partner which shares our own vision of our potential within this market. As with all its portfolio companies, the firm will contribute its experience and knowledge to help us achieve our goals. Strengthened by the success that the Internet model and FitnessBoutique stores generated in the French market, we now plan to accelerate our roll-out across Europe. ”
ABOUT AXA PRIVATE EQUITY
AXA Private Equity is a leading private equity firm with managed assets of USD 25 billion and an international reach across Europe, North America and Asia. The firm offers investors the full spectrum of private equity services for every market segment: direct funds, infrastructure financing, mid cap and small cap buyouts, venture capital, co-investments, fund of funds as well as mezzanine financing.
With offices in Paris, Frankfurt, London, New York, Singapore, Milan, Zurich and Vienna, AXA Private Equity supports the development and long-term growth of its portfolio companies with sustainable growth strategies and by granting them access to the AXA international network. AXA Private Equity has earned the trust of its investors by regularly supplying them with transparent performance data on its funds and portfolio companies.
AXA Private Equity, Global Investments the European way
FitnessBoutique is the French leader in sales to private individuals and professionals of fitness equipment and food supplements for sport. With more than 350,000 loyal customers, an Internet presence in France, Spain, Italy, Belgium, Switzerland and Portugal as well as 17 stores in France and 2 in Spain, the company achieved in 2010 a turnover of €21.4M, with growth of 18% compared to 2010.
35 people currently work at the company offices at Voiron (Isère) and 37 people in the stores of the group.
From the summer of 2011, FitnessBoutique plans to open stores at branches and franchises in France as well as a significant number of new stores in Europe.
More information on www.FitnessBoutique.fr
List OF CONTRIBUTORS
Investor AXA Private Equity: Geoffroy de La Grandière – Laurent Foata
Legal Consultant Investor: Claire Bourgeois, BDA
Due Diligence Consultant Investor: Didier Amphoux, Fiduciaire Leydet
Corporate Legal Consultant: Laurence Sallard, Landwell & Associated