June 2nd 2014,
The Homair Vacances group announces the signing of a share purchase agreement relating to the acquisition of 100% of the shares issued by Eurocamp Limited, a major British player in the area of outdoor holiday accommodation, former subsidiary of the English Holidaybreak group. The new consolidated group will manage approximately 15,000 mobile-homes located on around 300 campsites situated principally in France, Spain, Italy and Croatia. This share purchase agreement is subject to the prior approval of the United Kingdom antitrust authorities.
Peter Kerkar, CEO of Holidaybreak, states that “this agreement is for us a logical and favourable step forward: as previously stated, the mobile-home rental was not a strategic priority for our group. This sale will strengthen our balance sheet and the growth capability of our core businesses.”
Alain Calmé, Chairman of the Management Board of the Homair Vacances group, states that “this acquisition is a major development step of the Homair Vacances group, which is a growing provider of European outdoor holidays. Eurocamp is a strongly recognized market player, greatly appreciated by the customers, especially in the UK and Ireland. We will develop this brand by respecting its DNA, as we did for the Al Fresco brand we purchased three years ago.”
Steve Whitfield, Managing Director of Eurocamp, adds: "We are delighted that we have found a shareholder who understands our market and appreciates our potential for growth."
Homair Vacances group is being advised on the Eurocamp transaction by Easton Corporate Finance and Société Générale (M&A), PriceWaterhouseCoopers (Finance Due Diligence),BDO and Mayer Brown (Tax Due Diligence), Taylor Wessing and DLA Piper (Legal Due Diligence) and Cabinet Cohen (Management).
Code ISIN : FR0010307322
Mnémonique : ALHOM
Investors website: www.homair-finance.com
Commercial website: www.homair.com