MMV acquired by COMPAGNIE DES ALPES
Context
The acquisition of an 85% stake in MMV by Compagnie des Alpes represents a strategic growth initiative, enabling the company to bolster its presence in the European leisure and ski resort industry. By acquiring MMV, the second-largest operator of hotels and club residences in the French Alps, Compagnie des Alpes gains control of a portfolio comprising 20 establishments across 16 renowned ski resorts. This transaction facilitates vertical consolidation of the company's value chain, substantially expanding its mountain accommodation capabilities, with the acquired assets set to complement its existing operations, thereby enhancing its overall market position, and entering new markets, with potential for increased revenue streams, through the integration of MMV's establishments, resulting in a significant increase in the company's scale and scope.
MMV, which reported an EBITDA margin of in 2022, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Retail & Consumer sector (11.2x).
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Target
MMV is the second-largest hotel operator in the French Alps, specializing in club hotels and residences for families. The group manages a portfolio of 20 establishments (10 club hotels and 10 club residences) across 16 prestigious ski resorts, including Tignes, Les Arcs, and La Plagne. With approximately 11,500 tourist beds and a 4-star/Premium positioning, MMV offers a comprehensive holiday experience including children s clubs, wellness areas, and outdoor activities.
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REFERENCES
Valuation range: EV 100M - 350M EUR
Revenue range: 50M - 100M EUR
EBITDA range: 10M - 30M EUR
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Acquirer: compagnie des alpes