(Press Release) Alta Growth Capital announced an investment in Grupo Bienestar, a fitness center operator in Guadalajara, Mexico for an undisclosed amount.
GEB has successfully developed and operated fitness centers in the premium segment under the brand Vivo47, and more recently, a differentiated low-cost fitness club model called Easy Fit. Through this transaction, AGC partnered with the original founders and operators to provide the business with additional capital for its expansion plan.
“This partnership makes it possible to take GEB to the next level,” said Gerardo Villarreal founder of GEB. “Alta Growth Capital will not only bring the necessary funds for growth, but also help refine and improve our strategic initiatives in order to achieve our aggressive future plans.”
“We are excited to partner with the original shareholders of the company and look forward to continuing the growth of the company,” said Rafael Payro, Managing Director of AGC. “We believe GEB will benefit from the growing middle class in Mexico that wants to improve their lives through fitness.”
Health macro trends continue to drive the expansion of fitness centers. It is expected that the fitness industry will grow at a much higher rate than the national economy and GEB can benefit not only from the industry growth, but also from the low penetration in certain regions. Javier García Teruel, Managing Director at AGC, commented “The Easy Fit low cost fitness centers present a differentiated value proposition that we believe is hard to match by competitors. Our partnership will allow the company to successfully grow at a fast pace.”