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Viva Leisure (ASX: VVA), the Canberra-based group behind such brands as Club Lime, Plus Fitness and HIIT Republic, has acquired a 33 per cent stake in Gold Coast sports nutrition startup Gorilla X Labs for an undisclosed sum.
The announcement follows Viva Leisure's $16.7 million investment last year for 25 per cent of World Gym Australia (WGA), including a call option to acquire remaining shares within 36 months and a 50-50 joint venture with its founders Jonathan Davie and Mike Nysten to roll out more corporate locations.
Gorilla X already has an affiliation with World Gym Australia as documents filed with the corporate regulator earlier this year show Davie and Nysten owned 50 per cent of the company, while its product line is also sold across WGA gyms as well as online and in major supermarkets.
Gorilla X lists its other shareholders, Katharine Richards and Lee Hanrahan, as sole directors.
Viva plans to integrate Gorilla X's line of ready-to-drink (RTD) beverages, protein powders, supplements, and merchandise across its platforms, starting with Club Lime gyms and its exclusive online platform Supp Society.
"This partnership brings great opportunities for both brands, and we’re genuinely excited about what’s ahead," says Viva Leisure CEO Harry Konstantinou.
"It’s a great fit for our business, and we’re looking forward to bringing Gorilla X’s premium products to more of our members, both in the gym and online.
"This partnership allows us to offer our members the very best in nutrition and wellness, supporting their fitness journeys at every step."
Business News Australia has sought clarification from Viva Leisure around the investment price, but a release notes it has been fully funded from existing cash reserves which at the close of 2024 stood at more than $18 million.
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