Evolution Wellness Holdings has acquired integrated wellness lifestyle company Fivelements for an undisclosed sum.
Bali-based Fivelements owns eco-wellness retreat Fivelements Bali and the newly opened, holistic sports wellness retreat, Fivelements Hong Kong.
Fivelements will join Celebrity Fitness and Fitness First Asia as the third brand in Evolution's growing portfolio of companies.
According to Evolution, the addition of Fivelements marks the start of Evolution Wellness’s "diversification of its portfolio from fitness into wellness".
“The addition of Fivelements to our portfolio is a part of our strategy to diversify our investments to bring a holistic integrated wellness approach and complement to fitness to both our existing and new customers," said Simon Flint, CEO, Evolution Wellness.
“Fivelements ranks on the world stage in delivering comprehensive wellness and lifestyle transformation programmes, along with plant-based cuisine, where visitors can experience the benefits of their own wellness journey and also take away with them insightful knowledge to help them on the path to wellness.
"The capability and talent at Fivelements provide us with an exciting opportunity to influence and enhance the value proposition for our existing customer base and add new revenue streams to the business by delivering an increased, complementary range of products and services."
Founded by Chicco and Lahra Tatriele, the Fivelements Bali is set in a secluded jungle clearing next to the Ayung River just outside Ubud.
Founded on traditional Balinese healing philosophies, such as Tri Hita Karana, the retreat opened in 2010.
"Becoming part of the Evolution Wellness family gives us the ability to take our brand to new heights, and to bring the benefits of a wellness lifestyle to people all over the world,” said Chicco Tatriele, co-founder and managing director of Fivelements."
Evolution Wellness was established in 2017, when it acquired two leading fitness brands in Southeast Asia – Celebrity Fitness and Fitness First.
It now controls one of the largest fitness club networks in the fast-growing Asian region.
