Macquarie Leisure Trust Group has acquired the Goodlife Health Club chain for $60 million.
The acquisition of the 18 established fitness centres in Australia is expected to deliver earnings accretion of 3-5 per cent and distribution accretion of 8-10 per cent in the 2009 financial year.
The purchase is intended to be funded through an appropriate combination of debt and equity.
In the short term, the transaction will be completed using existing debt capacity within current facility limits.
The transaction is subject to assignment of property leases, which is expected to occur within six weeks.
