Virgin Active Membership and Revenue Surge Despite UK Listing Rumors
Virgin Active, the fitness chain founded by Sir Richard Branson, has seen a resurgence in membership and revenue, despite rumours of a UK listing in late 2024. The company, majority-owned by private equity firm Brait, has also significantly reduced its losses.
In 2024, Virgin Active's adult membership grew by five per cent, reaching over one million, surpassing pre-pandemic levels. This growth contributed to a revenue increase from £511.4m to £576.3m in the same year. The company's losses also saw a significant reduction, dropping to £78.1m from £146.7m in 2023.
Founded in the late 1990s by Sir Richard Branson and Matthew Bucknall, Virgin Active opened its first club in Preston, Lancashire. In 2015, South Africa's private equity firm, Brait, acquired the company for £682 million. Sir Richard Branson's Virgin Group still holds a 16.8 per cent stake in the company, while Titan Premier Investments has a 7.9 per cent holding.
Despite reports suggesting a potential listing in the UK in late 2024, no such move has materialised. Virgin Active continues to be majority-owned by Brait, controlled by South African billionaire Christo Wiese. The company's strong performance in 2024 indicates a promising future for the fitness chain.
