Compagnie des Alpes announces that it has closed the acquisition of 100% of the shares in Familypark, the leading Austrian leisure park.
. Located in the tourist region of Neusiedl Lake, less than one hour from the centre of Vienna, Familypark is easily accessed from Hungary and Slovakia. During the 2018 financial year, Familypark generated revenue of €19.1m with EBITDA of €6.8m. It welcomed 716,000 visitors, of which around 30% were from Hungary and Slovakia. It is a high-quality regional park, with infrastructure and facilities that are matching the standards set by Compagnie des Alpes. Over the last few financial years, it has benefited from a level of investment that enables it to offer a product with all the intrinsic qualities of the group’s portfolio of sites.
Familypark has a good reputation and high satisfaction ratings, reflecting both the quality of the asset and a positioning in line with Compagnie des Alpes' strategy. It is located in a significant catchment area (7 million people less than a 2-hour drive away) in a region where there are no direct competitors. Moreover, the park has a real development potential given the 13 hectares of adjacent land reserves.
The acquisition amount shows an enterprise value of €72.5m. Familypark will be accounted for in the Leisure Destinations BU from 1 April and will be accretive for the BU in terms of EBIDTA margin. For Dominique Marcel, Chairman and Chief Executive Officer, "this acquisition is perfectly in line with the strategy that the Group has deployed over several years in our parks. It will reinforce the geographical coverage of our very coherent park portfolio. We are, therefore, very pleased to welcome Familypark amongst our sites. In this context, the Group will continue its efforts to seize value-creating acquisition opportunities".