Esporta lines up €330m bid for Next Generation Clubs

BRITISH gym chain Esporta has confirmed that it is lining up a bid for Next Generation Clubs, the fitness business owned by a group of Irish investors.

Next Generation, which is 60% owned by John Magnier, JP McManus, Michael Tabor and Dermot Desmond, was put up for sale before Christmas. A takeover would cost around €330 million.

Neil Gillis, Esporta’s chief executive, said yesterday that a bid for Next Generation would be made next week. “We haven’t made a bid for Next Generation yet. The deadline is February 22, and we will be putting a bid in, definitely,” he said yesterday.