23 Sep 2008 09:44
ADDleisure Plc / Epic: ADE.L / Index: AIM / Sector: Leisure
23 September 2008
ADDleisure Plc ('ADDleisure' or 'the Company')
Proposed Acquisition of ClubRunner by Digital Plantation & Major New Contracts in Negotiation
ADDleisure Plc, the AIM traded company formed to develop products and services in the health and wellness sector, is, following lengthy discussions, in advanced negotiations to acquire ClubRunner (Europe) Limited ('ClubRunner') through its 50.2% owned intelligent booking software business Digital Plantation Ltd ('Digital'). Specialists in health club management software, ClubRunner provides IT solutions across the leisure industry including the hotel, health & fitness, play and golf markets, complementing Digital's range of proprietary intelligent booking software that specialises in the day and destination Spa markets.
ClubRunner, which was established in 1995 by Stefan Drummond, is a leading leisure management software solutions provider with existing high profile clients such as Livingwell Hilton Hotels, Gambado, Ramada Jarvis and PlayGolf. The Board of ADDleisure see considerable synergies existing between the two companies. Importantly a merger of Digital and ClubRunner will significantly strengthen their capabilities of attracting major new corporate clients both UK and Internationally, with products already translated and fiscally compliant in Spanish, Italian, French, Dutch, English and American. The combination of innovative software and an established trading record and existing international clients that will be brought together in this merger, has already resulted in agreements and negotiations with potential new clients such as JJB Mifit.
ADDleisure Plc Chief Executive David Turner said, "The proposed acquisition of ClubRunner is a milestone in the development of Digital Plantations, and highlights our commitment to develop ADDleisure's offering as a benchmark in the industry. ClubRunner will bring with it a highly respected operating track record, a blue chip client list and substantial recurring income. The deal is expected to significantly increase the earnings potential of the Company and impact ADDleisure's future financial performance. With contracts and negotiations already at advanced level with high profile clients, I believe that the future for the merged company is bright indeed."
A further announcement will be made in due course.
** E N D S **
For further information visit www.addleisure.com or contact:
| Mike Mills | ADDleisure Plc | Tel: 020 7449 1000 |
| Mark Percy | Seymour Pierce | Tel: 020 7107 8000 |
| Susie Callear | St Brides Media & Finance Ltd | Tel: 020 7236 1177 |
Notes
ADDleisure Plc, 29% owned by BUPA, was formed to develop products and services in the leisure and wellness sectors, helping to meet the growing demand for innovative new health and fitness solutions. Its key products/services include:
Movers and Shapers Limited (50/50 with BUPA) - a groundbreaking retail concept for health and fitness services utilising Fitbug and Power Plate technology
Fitbug Limited (50/50 with BUPA) - developers of an online personal health and well-being coach, which has secured major contracts with corporate clients such as BP and private medical insurance company PruHealth
Digital Plantation Limited (50.2% interest) - developers of Ez-Systems, intelligent booking software, used in a range of sectors both in the UK and internationally
The Company has a highly experienced management team including Allan Fisher, founder and former CEO of Holmes Place plc; David Turner, founder and former director of LA Fitness plc; Michael Warshaw, former owner and Chairman of Molton Brown; and David Cummin, founder and former director of Membertrack Limited, a leading club membership software provider.