Sani/Ikos Group (SIG), the leading luxury beach resort group in the Mediterranean, and GIC, global institutional investor, have entered into a strategic partnership under which GIC will become the leading shareholder alongside SIG’s management team. The transaction values the Sani/Ikos Group at €2.3 billion. The transaction is expected to close in the 4th quarter of 2022, subject to customary regulatory approval.
Under the leadership of its founders, Stavros Andreadis, Andreas Andreadis and Mathieu Guillemin, who remain significant shareholders, SIG has grown from the family-owned Sani Resort in Greece to the fastest-growing and most successful luxury resort owner-operator in the Mediterranean. Since its creation in 2015 SIG has expanded its asset base and scale by a factor of four with the backing of blue-chip investors including funds managed by Oaktree Capital Management L.P., funds managed by Goldman Sachs Asset Management, Moonstone, Florac and Hermes GPE who will be selling their stakes to GIC as part of this transaction.
Andreas Andreadis and Mathieu Guillemin will continue to manage SIG as CEOs and Co-Managing Partners, while Stavros Andreadis will become Honorary Chairman of the Group.
The strength of SIG’s business has been evidenced by its growth and resilience, including during Covid. In 2022, bookings at SIG resorts were up +52% compared with 2021 and +57% compared with 2019. Both Sani and Ikos concepts are delivering exceptional guest satisfaction in outstanding beach resort properties. Ikos has successfully combined, in an innovative way, real luxury with the power of all-inclusive as illustrated by the #1 global ranking achieved in TripAdvisor’s Traveler’s Choice Best All-Inclusive category for five consecutive years to 2022.
“We are excited to welcome GIC on board and look forward to bringing the Sani/Ikos Group magic to guests across the Mediterranean and beyond”, said Andreas Andreadis and Mathieu Guillemin, CEOs of the Sani/Ikos Group. “Over the past years, the Sani/Ikos Group has led a remarkable path, with significant investments, international expansion and strong financial performance. This was achieved despite the pandemic and thanks to the support of our shareholders, who were outstanding partners, and to our management and employees whose dedication and talent are second to none in our industry. We can now solidify our leading position across the Mediterranean, to the benefit of our shareholders, our people and the communities where we operate.”
Lee Kok Sun, Chief Investment Officer of Real Estate, GIC, said: “We are pleased to partner the Sani/Ikos Group as they continue their efforts to strengthen their brand and expand their presence in europe. The group’s assets are well-located and the team is known for providing excellent hospitality experiences. We believe this investment will generate resilient returns and is testament to our confidence in the Greek and wider European tourism sector over the long term.”
Source: gic.com on the 22th of September 2022
https://www.gic.com.sg/newsroom/all/sani-ikos-group-enters-new-strategic-partnership-agreement-with-gic-valuing-the-business-at-e2-3bn/