Last month Europe’s largest hotel group, AccorHotels, ventured into private sales with the purchase of booking platform VeryChic, which followed on the heels of its decision to buy French hospitality firm Potel & Chabot (deal is currently under negotiations).
The company is buying again – this time a French events company. It just announced it is in ‘exclusive’ talks with FCDE (Fonds de Consolidation et de Développement des Entreprises) to acquire 100% of the latter’s unspecified minority interest in French events and catering company, Groupe Noctis.
Terms of the deal have not been disclosed.
Groupe Noctis was established in 2008 by its chairman, CEO and majority shareholder, Laurent de Gourcuff. Since then it has grown into a key player in the events, catering and entertainment markets, and has about 800 employees.
The company has a collection of exclusive venues in France and abroad and has inked agreements to open 10 new venues in Paris including Restaurant Girafe (Cité de l’Architecture et du Patrimoine, Paris 16), Electric (Porte de Versailles, Paris 16), Compagnie 1837 (Saint Lazare train station, Paris 9) and the rooftop restaurant at 52 Champs-Elysées (Paris 8).
One of Groupe Noctis’ exclusive venue in France (Image credit: Groupe Noctis Collection)
FCDE invested €11 million (US$12.22 million) in Group Noctis over 2013 and 2014 to help it roll out its strategically important events business, in particular through acquisitions. Over the past four years, it has grown revenues by 250%. It organises over 3,000 events a year.
In a joint statement, AccorHotels said through this investment it hopes to cement its position in the City of Lights, a prominent destination for events and exclusive venues. For Groupe Noctis it will benefit from tapping into AccorHotels’ hospitality expertise for both its business and clients.
Groupe Noctis’ de Gourcuff said the FCDE had been a very valuable partner and has played a pivotal role in the company’s development strategy’s success.
Sébastien Bazin: Acquiring more than “an enviable address book” . (Image credit: AccorHotels)
“Now we’re starting a new, decisive chapter in our story, with AccorHotels’ investment in our equity. It’s the best partner to team up with to push ahead with our bold development plans, and we’ll be able to share a leading group’s expertise in serving upscale customers and extract synergies with their various business lines,” he added.
Commenting on the investment Sébastien Bazin, chairman and CEO, AccorHotels, said it was more than acquiring “an enviable address book” as de Gourcuff and his teams have built a portfolio of distinctive venues.
“This alliance blends naturally into our plans to transform and boost AccorHotels with a view to catering to increasingly discerning customers’ wants and needs beyond the travel universe. Its expertise and ours complement each other, and pooling our assets will put us in a position to tap into growth opportunities and synergies in France and beyond,” he added.
• Featured image credit: Groupe Noctis Collection
