on Mendarion SE (isin : DE000A2LQ2D0)
029 Group SE Portfolio Company Completes Two Major Acquisitions
Berlin, 04th July 2024. 029 Group SE, a global hospitality platform, announces that its portfolio company, Emerald Stay, has acquired a majority stake in Bo-House SAS and Fabio Home Services SAS. These acquisitions significantly expand Emerald Stay's presence in the luxury rental market in Saint-Tropez, making it the leading market player in the area.
Bo-House SAS is known for its short-term luxury rentals in locations including Saint-Tropez, Ramatuelle, and Gassin, managing over 170 properties. Meanwhile, Fabio Home Services SAS specializes in property management, handling over 80 properties and offering services like concierge and event planning. This strategic integration aims to streamline operations and enhance service delivery.
The acquisition aligns with Emerald Stay's goal to lead in luxury rental markets across Europe's premium destinations. By leveraging the strengths of both Bo-House and Fabio, Emerald Stay anticipates significant growth and a stronger market position.
R. P.
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