PE-backed Alpitour buys Eden Viaggi

Unquote understands that Alpitour acquired the tour operator business of Eden Viaggi for €55m in cash from the company's founders, the Filippetti family, who will retain other minor activities managed by the company in the hospitality sector.

In 2017, Alpitour generated an EBITDA of €46m, an increase of 28.6% from 2016, from revenues of €1.2bn. Following the acquisition of Eden Viaggi, Alpitour expects to reach a turnover of €2bn in 2019.

In March, Unquote reported that Wise and J Hirsch received expressions of interest for Alpitour from some possible buyers, but the sale talks are still in their initial phase. It is possible that Alpitour shareholder Tamburi will increase its holding, acquiring J Hirsch's and Wise's stakes.

In March 2017, Tamburi provided a €120m capital increase for Alpitour and acquired a 32.7% stake, while Wise and J Hirsch each retained a 17.5% stake.

Company
Founded in 1985 and based in Pesaro, Eden Viaggi specialises in travel and tourism services, offering tour packages, travel reservation and tour facilities. The company has around 500 staff and in 2017 generated revenues of approximately €350m.

People
Eden Viaggi – Nardo Filippetti (founder).
Alpitour – Gabriele Burgio (CEO).

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• Topics
• Portfolio management
• Southern Europe
• Consumer
• Wise SGR
• Italy
• Build-up