ACC investment to 'double down' on Les Mills OnDemand

Thu, 12 Nov 2020

Les Mills International founder Phillip Mills says ACC’s investment will help the 550-employee business accelerate the investment and marketing of its on-demand service, which now makes up about a quarter of revenue for the global fitness firm. The state-owned workplace insurer said today it will take an 18 percent stake in the international part of the firm as the Mills family and other shareholders sell down. Former Commonwealth games athlete Mills would not disclose the company’s valuation but conceded a 2018 goal to be...

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