Basic-Fit completed the acquisition of Clever Fit for €160m.

Basic-Fit, a fitness and wellness company, completed the acquisition of Clever Fit, a fitness franchise operator, for €160m. ''Following a thorough process, I am pleased to announce the acquisition of Clever Fit as a transformative step in accelerating our growth in a capital-efficient manner. This transaction marks Basic-Fit's entry into franchising and widens our footprint to 12 European countries. With Clever Fit's established franchise network, Basic-Fit consolidates its position as the largest and fastest growing fitness chain in Europe, attains immediate market leadership in Germany, and becomes the largest fitness franchisor on the continent,'' Rene Moos, Basic-Fit CEO.