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Investindustrial, led by Andrea Bonomi, agreed to acquire the Valtur Group reportedly for EUR 100 million from Croatian entrepreneur Franjo Ljuljdjuraj, founder of Orogroup SpA, who is keeping a minority stake in Valtur. Bonomi, who last year abandoned a protracted bidding war with Chinese conglomerate Fosun International (HK: 0656) which took over French holiday company Club Med (EPA: CU) after paying an 80% premium in a EUR 939 million deal, now scored a prize in the same industry sector, by acquiring Valtur, the fourth-largest Italian hotel group, at a fraction of the cost. The move comes only two weeks after Bonomi’s firm agreed to acquire a 60% stake in Italian baby and healthcare products Artsana SpA group, which owns the popular Chicco brand, in a EUR 1.3 billion deal. The acquisition of Valtur is the first step of a major global project aimed at the creation of a tourism group active in the management of leading resorts in the Mediterranean, the company said. Bonomi is hoping to achieve his new plan through the consolidation of Valtur’s leadership in Italy’s resort segment, and by strengthening its brand presence in the Mediterranean. The group will seek to promote the Italian hospitality style internationally, and significantly increase in-bound foreign tourism traffic into Italy. Investindustrial has also agreed to acquire the real estate property of three resorts (Ostuni, Pila and Marilleva) currently operated by Valtur, from Prelios SGR SpA. In addition, Bonomi’s firm signed a lease contract with Antirion SGR SpA ensuring Valtur’s management of the exclusive Tanka Village Resort, in the south of Sardinia. With Tanka Village, the Valtur Group will exceed half a million overnight stays per year, the company says. Because of its unique geographical location, the quality of the structure and the number of bedrooms (930), the Tanka Village Resort is one of the jewels of Italian hospitality strengthening the leadership of the Valtur brand as a symbol of Italian tourism. “Tourism is a strategic sector for the growth of Italy that deserves great attention. We are proud to support a project destined for long-term growth,” said Andrea C. Bonomi, managing principal of Investindustrial. “Today the offer in Italy is still too fragmented to be able to attract and effectively manage the growth of international tourism flow that the country could easily accommodate. Valtur will start a process of consolidation that will affect not only Italy, but more generally, all of Southern Europe.” “We have developed a strategic plan that will allow Investindustrial to support the project with our experience gained over the years in the tourism sector, aiming to transform Valtur into the worldwide standard-bearer of tourism Made in Italy,” he added. “The agreement for the management of Tanka is the plan’s first important step.” Overall, only about 20% of Valtur’s current guests are foreign, a figure set to rise rapidly in light of the growth of tourism in Southern Europe. In contrast, more than 50% of the Tanka Village clientele is currently international. [caption id="attachment_431487" align="aligncenter" width="1024"]Tanka Village Resort, Villasimius, Sardinia Tanka Village Resort, Villasimius, Sardinia[/caption] The Tanka Village Resort is located in Villasimius, on a beautiful stretch of coastline in the south-eastern tip of Sardinia, with a beautiful sea, part of the Marine Protected Area of Capo Carbonara. It covers over 40 hectares (90 acres) of land reaching to the sea, on the white sandy beach of Simius. The resort is easily reached from the port and airport of Cagliari-Elmas in Sardinia, which are at less than 60 km (37 mi) away. Valtur was founded in 1964 by international engineering firm Italconsult, with the backing of several major Italian industrial groups. Valtur started its journey by directly managing its first lodging facilities and opening Clubs in Ostuni and Capo Rizzuto, among others, thus creating the “holiday village” model in Italy. In the 70s, the Italian government invested in Valtur’s share capital to strengthen Valtur’s strategic role in the development of tourism in Southern Italy. It was an era of synergy between the Italian public and private sectors which lasted until the beginning of the new millennium. In the late 90s, the Patti family started investing in Valtur, acquiring control of the company in 2001. In October 2013, Valtur was acquired by Orovacanze Srl, a subsidiary of Orogroup SpA. Founded in 1996 by Montenegrin businessman Franjo Ljuljdjuraj, Orogroup includes a network of 24 facilities including hotels and resorts and over 5,000 rooms, being considered one of the leading Italian-based tour operators, specializing in the management of hotels for both sea- and mountain-lovers. “When I started my adventure dedicated to the revitalization of a historic brand I knew that one day I would need a partner able to support the further development of the company, including through acquisitions,” said Valtur’s CEO, Ljuljdjuraj. “Investindustrial’s experience in the tourism sector and its recognized ability to globalize Italian brands, are a perfect combination for Valtur.” Investindustrial operates through independently managed investment holding and advisory companies with strong sector and industrial expertise, operational focus, long term capital and global platforms. With €2.9 billion of combined assets under management, Investindustrial is one of Europe’s leading independent investment groups focused on taking control positions predominantly in Southern European medium-sized companies that are leaders in their fields. The firm’s current investment portfolio includes Aston Martin, B&B Italia, Flos, Goldcar, Perfume Holding, PortAventura Polynt, Snai, Sergio Rossi, Stroli Oro and TSC. Investindustrial has a team of more than 75 professionals representing twelve nationalities who are based across its offices in Switzerland, Spain, United Kingdom, United States, Luxembourg, and China. In total the companies in which Investindustrial has invested have approximately 13,000 employees and a manufacturing presence in more than 20 countries. Photo: Andrea C. Bonomi, Founder and Managing Principal of Investindustrial.]]>