PIERRE ET VACANCES - CENTER PARCS acquired by MUBADALA
Context
Mubadala Capital has entered into an agreement to acquire a controlling stake in Pierre & Vacances-Center Parcs through a public tender offer followed by a proposed delisting. The offer values each share at €1.90, including a special dividend of €0.11 per share. This price represents a premium of approximately 35% to the recent average trading price. An additional €0.10 per share will be paid if the 90% ownership threshold is met, allowing for a mandatory squeeze-out and delisting. The transaction has received unanimous support from the company's board of directors and key shareholders, who collectively hold 58.6% of the capital. To secure the deal, Mubadala has set a minimum acceptance threshold of 80% of the share capital. The investor is also in discussions with several other significant shareholders to garner sufficient support for the proposed delisting. The strategic rationale behind the acquisition is to support Pierre & Vacances-Center Parcs' ongoing efforts to upgrade its offerings and invest in long-term growth initiatives. By delisting, the company aims to continue its development without the constraints of public market requirements, while benefiting from the backing of a shareholder with significant investment capabilities and a long-term holding horizon. This transaction also highlights the growing interest of international investors in experiential tourism and local leisure assets in Europe.
PIERRE ET VACANCES - CENTER PARCS, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level LOGIN as low as the average currently observed in the Retail & Consumer sector (11.0x).
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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Target
Founded in 1967, Pierre & Vacances-Center Parcs is a leading European player in the short-break and family vacation market. The group operates a diverse portfolio of complementary brands, catering to various segments of the tourism accommodation market, ranging from vacation residences to nature-inspired villages and leisure parks. Its core activities are centered around the Pierre & Vacances, Center Parcs, Adagio, Maeva, and Villages Nature Paris brands. The company's unique selling proposition lies in its integrated business model, which combines accommodation, dining, leisure activities, and services tailored to vacationers. Its product offerings primarily focus on short- to medium-stay breaks, capitalizing on the growing demand for accessible, drivable vacations near major European population centers. The Center Parcs domains are a strategic cornerstone of the business, featuring large-scale complexes that integrate accommodations, aquatic facilities, sports activities, and immersive nature experiences. With a presence in several European countries, including France, Germany, the Netherlands, and Belgium, Pierre & Vacances-Center Parcs welcomes millions of customers each year. The company enjoys strong brand recognition among families and leverages an extensive property portfolio spanning attractive tourist destinations. In recent years, the group has pursued an upscale strategy, renovating its sites, enhancing the customer experience, and developing concepts focused on sustainable tourism and local leisure activities.
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REFERENCES
Valuation range: EV 1b - 4b EUR
Revenue range: 1b - 3b EUR
EBITDA range: 100M - 200M EUR
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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Press release: view release
Target: pierre et vacances - center parcs
Acquirer: mubadala