Groupe B&B Hotels acquired by Goldman Sachs
Context
This transaction represents a massive secondary leveraged buyout wherein Goldman Sachs acquires the entire share capital of B&B from its historical financial sponsor, PAI Partners. Following a highly successful holding period marked by explosive operational growth and a near-doubling of profitability, the exiting French private equity fund secures a highly lucrative exit. Executed through preemptive exclusive negotiations before a formal auction process, this new corporate partnership will provide B&B with the immense capital backing required to aggressively accelerate its global footprint expansion, specifically targeting rapid establishment rollouts across new international markets.
It is worth noting that the fund PAI Partners took control of Groupe B&B Hotels through an LBO in 2015.
Groupe B&B Hotels, which reported an EBITDA margin of [members only] in 2019, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, standing directly in line with the average observed in the Retail & Consumer sector (12.8x in 2019).
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Target
Founded in 1990, B&B Hotels is a leading independent economy hotel chain. The company’s business model is based on an "écono-chic" concept, offering high-quality essential services (bedding, Wi-Fi, breakfast) at a moderate price point for both business and leisure travelers. Its value proposition centers on a standardized guest experience with an optimized cost structure, which has earned the group multiple awards for design and innovation. Strategically, as of September 30, 2015, the group operated a platform of 343 hotels and over 28,500 rooms across seven countries: France, Germany, Italy, Spain, Poland, the Czech Republic, and Morocco. B&B has established itself as a European benchmark in the budget hospitality sector through disciplined international expansion and a strong, functional brand identity.
Ent. Value
€1–10bn
Equity Value
[members only]
Multiples
EV / Revenue
[members only]
EV / EBITDA
10x–18x
EV / EBIT
[members only]
Historical Financials (EUR)
Other operations with Groupe B&B Hotels
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 12/2015 | PAI PARTNERS | GROUPE B&B HOTELS | FRANCE | Hotels & Accommodation |
Other operations with Goldman Sachs
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 10/2026 | GOLDMAN SACHS | CELNOR | UNITED KINGDOM | TIC (Testing, Inspection, Certification) |
| 07/2025 | GOLDMAN SACHS / BLACKSTONE | NAVEX | UNITED STATES | ERP, HR & Finance |
| 12/2024 | GOLDMAN SACHS | SYNTHON INTERNATIONAL | NETHERLANDS | Generics / Labs |
| 05/2024 | GOLDMAN SACHS | CRYSTAL | FRANCE | Wealth & Asset Management |
| 05/2022 | GOLDMAN SACHS | NORGINE | NETHERLANDS | Generics / Labs |
| 01/2017 | GOLDMAN SACHS | GROUPE FINIZY (MEILLEURTAUX) | FRANCE | Brokerage |
Similar deals in Hospitality & Leisure
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 06/2019 | CITY DEVELOPMENTS | MILLENNIUM & COPTHORNE HOTELS | UNITED KINGDOM | Hotels & Accommodation |
| 06/2019 | KIRKBI INVEST / BLACKSTONE / CPPIB (CANADA PENSION PLAN INVESTMENT BOARD) | MERLIN ENTERTAINMENTS | UNITED KINGDOM | Parks & Ski Resorts |
| 04/2019 | NEXTSTAGE / MI3 | GROUPE BAGATELLE | FRANCE | Restaurants / Chains |
| 04/2019 | MTY FOOD GROUP | PAPA MURPHY'S | UNITED STATES | Restaurants / Chains |
| 12/2018 | SERRUYA PRIVATE EQUITY / LION CAPITAL | GLOBAL FRANCHISE GROUP | UNITED STATES | Restaurants / Chains |
| 12/2018 | INSPIRE BRANDS | SONIC DRIVE IN | UNITED STATES | Restaurants / Chains |
| 12/2018 | DENTRESSANGLE | BIG MAMMA | FRANCE | Restaurants / Chains |
| 12/2018 | LVMH | BELMOND | UNITED STATES | Hotels & Accommodation |
| 11/2018 | DURATIONAL CAPITAL MANAGEMENT / THE JORDAN COMPANY TJC | BOJANGLES | UNITED STATES | Restaurants / Chains |
| 11/2018 | HYATT | TWO ROADS HOSPITALITY | UNITED STATES | Hotels & Accommodation |
REFERENCES
Valuation range: EV €1–10bn
EBITDA range: €100–200M
EV/EBITDA range: 10x - 18x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Groupe B&B Hotels by Goldman Sachs 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.
Target: groupe b&b hotels
Acquirer: goldman sachs
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