ACC takes stake in Les Mills International

Thu, 12 Nov 2020

Accident Compensation Corp's investment arm will take an 18 percent stake in the international Les Mills business founded by fitness entrepreneur Phillip Mills.Mills’s fitness empire - which includes global fitness programme businesses as well as the New Zealand franchise of gyms - was last valued at between $280-and-$300 million in the 2018 NBR Rich List. At that time, it had a stated goal of reaching a valuation of $1 billion by 2020.The transaction does not apply to the NZ gyms operation. ACC said in a statement it will have t...

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