Ardian, an independent French private investment firm, has divested its stake in Netquattro, the company behind Fitness Boutique. This network of 72 stores specializes in fitness equipment and nutrition, in France and several other countries, from Spain to Italy, Belgium, Switzerland and Portugal. The stake was divested early last month through what Ardian describes as a sponsorless owner buyout. Ardian, which was formerly Axa Private Equity, bought into the French retailer in 2011. Fitness Boutique has since tripled its number of stores, which reach an annual turnover of more than €40 million. It intends to open “a large number” of new stores from this year, both own stores and franchises, in France and in other countries.

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