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Firstcry increases stake in HS Fitness to 86.49%
Globalbees Brands Private Limited, a material subsidiary of FirstCry parent Brainbees Solutions Ltd, said the acquisition was completed for a cash consideration of Rs 2.40 crore.
FirstCry subsidiary Globalbees increases holding in HS Fitness (Image source: Moneycontrol)
Globalbees Brands Private Limited, a material subsidiary of FirstCry parent Brainbees Solutions Ltd., on Tuesday said it has acquired an additional 6.49% stake in HS Fitness Private Limited from existing shareholders.
Following the transaction, Globalbees’ shareholding in HS Fitness has risen from 80% to 86.49%. The company said the acquisition was completed for a cash consideration of Rs 2.40 crore.
HS Fitness, incorporated in 2013, operates in the fitness equipment segment under the “Reach” brand and offers installation, repair, manpower and maintenance services. The company’s turnover has declined over the past three financial years--Rs 58.75 crore in FY23, Rs 29.65 crore in FY24, and Rs 7.59 crore in FY25. Its net worth stood at Rs 18.54 crore in FY25.
Despite the fall in turnover, Globalbees said the Reach brand, through HS Fitness and its subsidiaries combined, generated more than Rs 17.5 crore in revenue in FY25.
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