(Reuters) – Virgin Active, the British health and fitness chain, has met a series of private equity suitors over a possible sale of the business that could net over 1 billion pounds ($1.53 billion), The Sunday Telegraph reported.
The newspaper said the 187-club firm, 76 percent owned by Richard Branson’s Virgin Group, is in the early stage of talks with potential buyers and has not yet launched a formal auction process.
It said the gym chain is also continuing to work on a potential flotation but plans have been hampered by stock market volatility.
It said private equity firms, including Kohlberg Kravis Roberts & Co (KKR.N), Blackstone (BX.N), Advent and CVC CVC.UL, could be interested in bidding for Virgin Active.
A spokesman for Virgin Group declined to comment.
(Reporting by James Davey; editing by Karen Foster)