Viva Leisure Limited (ASX:VVA) executed a binding business sale agreement to acquire six pinnacle health clubs in Victoria for AUD 6.3 million on January 11, 2021. The consideration would range between AUD 6.05 million and AUD 6.25 million depending on various completion conditions. A minimum of 6500 members to be acquired. Transaction to be funded using 50% debt and 50% equity from recent capital raise. The acquisition is expected to be completed within the next 60 days. The acquisition represents a historic financial year 2019 EBITDA multiple of 3 times pre-synergies for the five locations operating in financial year 19 plus reimbursement of costs (AUD 1 million) for the sixth club and capital improvements during the COVID lockdown period.