Alter Ego Media announced the acquisition, through its subsidiary Alter Ego Ventures, of a 10% stake in FITQUEST S.A., the sole shareholder of GYMQUEST Single Member S.A., which operates the fitness facilities under the Alterlife brand.
The agreement provides for the acquisition of the stake through a combination of share purchases from existing shareholders and participation in a share capital increase, for a total consideration of €4.75 million.
Alterlife is one of the largest and fastest-growing wellness and fitness groups in Greece, operating a network of 90 gyms, serving more than 165,000 members and supported by approximately 1,700 employees and associates nationwide.
The investment forms part of Alter Ego Media’s broader investment plan, which is being implemented through ALTER EGO VENTURES, the Group’s investment arm. ALTER EGO VENTURES invests in companies that demonstrate strong growth prospects and synergies with the Group’s operations. For Alter Ego Media, the transaction represents another step in its strategic transformation into a broader media and entertainment consumer platform, with exposure to activities linked to communities, subscriptions, data and consumer experiences.
