SnowWorld, the Dutch operator of indoor ski resorts, has just confirmed that it has completed two large acquisitions in the Netherlands and Germany. At the same time, it has reached an agreement on the complete refinancing of its existing bank loans, as well as adding an acquisition line, which will enable it to make further acquisitions in the sector.
SnowWorld is taking over 100 percent of the SnowPlanet indoor ski park in Amsterdam – which will be transformed into a SnowWorld. It will also take a 25 percent stake in the Alpenpark in Neuss, which will keep its name for now. SnowWorld also has the right to extend this collaboration to a majority participation in the medium term. The company has not released official figures but some reports estimate the overall investment at €5.6 million.
The Dutch group said that, as a result of these takeovers, it will become the leading European provider of indoor winter-sports resorts, jumping from two to four sites. The company already owned two sites in the Netherlands: SnowWorld Landgraaf, Europe's largest indoor ski resort, and SnowWorld Zoetermeer.
After the complete integration of all acquired sites under the SnowWorld concept, the group will be aiming for as many as two million visitors, an increase of 80 percent from the current number of SnowWorld visitors. In total, around 300 people will be employed in the group, which will possibly increase to 500 employees further down the line. SnowWorld expects to be able to realize significant synergies in the areas of marketing, administration and other overheads.
In May 2018, 83 percent of SnowWorld's shares were acquired by the Alychlo, the family investment firm of a Belgian entrepreneur, Marc Coucke. After disappointing half-year figures published on May 1, 2018, the appointment of a new chief executive for SnowWorld, Wim Hubrechtsen, has apparently helped turning things around. He previously worked for Studio 100 and Medialaan.
Since the start of its new financial year on Oct. 1, SnowWorld already achieved significant growth in comparison with the previous year, said the management, adding that the latest two acquisitions will likely result in an Ebitda increase of 10 percent in the short term. Over the coming years, the group will look at further acquisitions in Europe.
