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Archie Norman to enter Esporta bidding?
By Sarah Todd 09 Oct 2006
According to media reports, former Asda chair Archie Norman is among the bidders for health club chain Esporta.
The chain launched a formal auction process in mid-September, after receiving several approaches from rival companies. It is estimated to be worth around £460m.
The Times reports that Norman made a bid via his private equity vehicle Aurigo Management, which he launched earlier this year.
However, analysts back Whitbread – which already owns the David Lloyd chain – to acquire Esporta.
The deadline for initial offers was last week, and a reported six parties will now be invited to take part in the second round of bidding.
Esporta owns and operates 54 clubs in the UK. Details: www.esporta.com
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