At what enterprise value was ALPITOUR acquired in 2025?

During the acquisition of ALPITOUR by TIP - TAMBURI INVESTMENT PARTNERI in 2025, the transaction's Enterprise Value is estimated to be in the range of 500M - 1.5b EUR.

What was the EV/EBITDA of ALPITOUR when it was acquired by TIP - TAMBURI INVESTMENT PARTNERI?

The estimated EV/EBITDA multiple for ALPITOUR is in the range of 5x - 12x.

When was ALPITOUR acquired by TIP - TAMBURI INVESTMENT PARTNERI?

ALPITOUR was acquired by TIP - TAMBURI INVESTMENT PARTNERI in 2025.

What was the revenue of ALPITOUR at the time of the deal?

The revenue of ALPITOUR at the time of the deal is estimated to be in the range of 1b - 3b EUR.

What was the EBITDA of ALPITOUR during the acquisition?

ALPITOUR's EBITDA is estimated to be in the range of 100M - 200M EUR.

How is the data for the ALPITOUR acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the ALPITOUR deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.tipspa.it/uploads/87cb0b2032a147a38bc0433eebc6d4fe.pdf

← DATABASE

Home Database Retail & ConsumerALPITOUR

02/2025

ALPITOUR acquired by TIP - TAMBURI INVESTMENT PARTNERI

ITALY Hospitality & Leisure / Travel EV 500M - 1.5b EUR

Context

TIP, through its controlled vehicle Asset Italia 1 srl, has exercised its right of pre-emption to acquire an additional 36.02% stake in Alpitour from Dal 1802. This strategic maneuver follows the suspension of a formal sale process initiated in 2023, as the shareholders elected to consolidate control rather than exit to external bidders. The transaction allows Asset Italia to increase its total shareholding in the tour operator to approximately 94.6% (and up to 95.3% depending on co-sale rights). The rationale for the consolidation is rooted in Alpitour's exceptional financial recovery and structural profitability, characterized by significant revenue growth and high margins. By securing nearly full ownership, TIP and its club deal partners aim to further stabilize the group’s capital structure and capitalize on promising tourism sector tailwinds, leveraging Alpitour’s substantial asset base and market dominance to drive long-term industrial value.

ALPITOUR, which reported an EBITDA margin of in 2024, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Retail & Consumer sector (10.6x).

-> Deep-dive in Retail & Consumer market trends

Target

Alpitour is Italy’s leading integrated tourism group, maintaining a robust business model that spans the entire travel value chain. The group operates across five main pillars: Tour Operating, Aviation (through its own airline), Hotel Management, Travel Agencies, and Incoming services. By controlling its own flight capacity and a diverse portfolio of hospitality assets, the organization provides a seamless end-to-end travel experience for the mass-market and premium segments. The group focuses on digital transformation and fleet modernization to drive operational efficiency and customer retention. Strategically positioned as a national champion in the Mediterranean basin and long-haul leisure destinations, the company leverages a multi-brand strategy to address evolving traveler preferences, maintaining deep structural profitability through integrated supply chain management and a vast physical and digital distribution network.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2024

2023

Similar deals in Hospitality & Leisure

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
03/2025	ADIA	EUROPEAN CAMPING GROUP (ECG)	FRANCE	Hotels & Accommodation
03/2025	QUATTROR / ANTHILIA CAPITAL PARTNERS	CIGIERRE	ITALY	Restaurants / Chains
02/2025	FORTRESS INVESTMENT GROUP	LOUNGERS	UNITED KINGDOM	Restaurants / Chains
01/2025	FRENCH FOOD CAPITAL / CEREA PARTNERS / SOFIPROTEOL	BOULANGERIES SOPHIE LEBREUILLY	FRANCE	Restaurants / Chains
03/2024	COMPAGNIE DES ALPES	GROUPE URBAN	FRANCE	Leisure Facilities
02/2024	MCWIN CAPITAL PARTNERS	STICKS’N’SUSHI	DENMARK	Restaurants / Chains
12/2023	PUBLIC INVESTMENT FUND PIF	ROCCO FORTE HOTELS	UNITED KINGDOM	Hotels & Accommodation
12/2023	SHAMAL HOLDING	SUSHISAMBA GROUP	UNITED KINGDOM	Restaurants / Chains
11/2023	GENERAL ATLANTIC	JOE & THE JUICE	DENMARK	Restaurants / Chains
10/2023	CALVETON / BREAL CAPITAL	THE EVOLV COLLECTION	UNITED KINGDOM	Restaurants / Chains

REFERENCES

Valuation range: EV 500M - 1.5b EUR

Revenue range: 1b - 3b EUR

EBITDA range: 100M - 200M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of ALPITOUR by TIP - TAMBURI INVESTMENT PARTNERI are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Acquirer: tip - tamburi investment partneri