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Benefit Systems SABenefit Systems' acquisition in Turkey to not affect company's investments in other markets
The planned acquisition of a fitness club chain in Turkey will not affect listed employee benefit schemes provider Benefit Systems' investments in other markets, company representatives told a teleconference.
"Our strategy, growth rate and planned investments in the other markets where we operate, remain unchanged. This acquisition will not affect our operations in Poland, the Czech Republic or other markets," said the member of Benefit Systems' management board Marcin Fojudzki.
"It is only an acceleration, a variation of the strategy announced at the end of last year," he added.
As Fojudzki pointed out, it should not be assumed that expansion in other markets will be very limited due to the acquisition of the Turkish network. The number of clubs in foreign markets by 2027 may turn out to be slightly higher than assumed in the group's strategy.
"We have defined development plans when it comes to the remaining markets. (...) As a result of the acquisition of MAC clubs, there will be several dozen more clubs on foreign markets by 2027 than in the presented strategy assumptions," Fojudzki said.
In the strategy presented in November 2024, Benefit Systems assumed that it would have 230-250 own fitness clubs in foreign markets in 2027.
On Monday, Benefit Systems entered into a conditional agreement to acquire MAC Group, the fitness market leader in Turkey, for a total of more than USD 400 million. MAC Group operates a network of more than 120 fitness clubs in Turkey. The transaction is expected to close in the second half of 2025.
pel/ ao/