France’s Up Group buys stake in Serbian gym cards provider

JPM assisted Groupe UP in acquisition of additional ownership participation in FitPass as a part of deal signed in 2019.

Acting as legal advisor of the French multinational company C.D Holding Internationale SAS (Groupe UP) operating in more than 25 countries worldwide, JPM Janković Popović Mitić team led by Partner Nikola Poznanović and Senior Associate Anja Šakan assisted Groupe Up in closing the second phase of the transaction.

As a keepsake, Groupe Up is a French cooperative group established in 1964 which connects individuals, companies, and territories by developing management, relationships, and transaction platforms that contribute to well-being and performance. It designs integrated solutions to meet the needs of its various partners, clients, and beneficiaries. Groupe Up facilitates access to food, culture, leisure, education, home and social assistance, expense management, as well as incentive and loyalty systems.

By investing in FitPass and helping the acceleration of its growth and internationalization through constant cooperation and financial, operating, and educational support, Groupe UP expanded the services that its clients can provide for their employees. In addition to the benefits regarding food, vacations, various services, and cultural and artistic activities, the sport was added. As Mr. Youssef Achour, President & CEO of Groupe Up stated during an interview: “Investing in FitPass fits perfectly with Groupe Up’s main strategic priorities and it is very important that the solution contributes, in a wider sense, to the policy of public health and well-being, which is recognized and accepted within the World Health Organization.”.

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