 "Talwalkars to acquire majority stake in Chennai fitness firm")
Fitness chain Talwalkars Better Value Fitness Ltd today announced the acquisition of majority stake in Chennai-based fitness firm Inshape Health and Fitnez Pvt Ltd (IHPL) in an all-cash deal for an undisclosed sum.
"Talwalkars Better Value Fitness Ltd (TBVF), one of India's largest fitness chains has entered into an agreement to acquire strategic stake in Inshape Health and Fitnez Private Ltd (IHPL), a health and fitness center having operations in Chennai. Talwalkars to acquire 51 per cent equity shares from promoters of the company in an all cash deal," TBVF said in a regulatory filing.
It further said: "The investment into IHPL will enable TBVF to further strengthen their presence in a fitness conscious Chennai Market. The partnership combines TBVF's strong hold in the fitness industry in India with IHPL's expertise in the local industry and market knowledge.
IHPL operates three gyms in Chennai.
Talwalkars Better Value Fitness' shares were trading at Rs 250.30, up 1.42 per cent from previous close on BSE.
