La Belle Montagne

The Labellemontagne group is continuing its development by welcoming Crédit Mutuel Equity, subsidiary of the Crédit Mutuel Alliance Fédérale group, as a new investor. Crédit Mutuel Equity led the latest funding round, alongside existing shareholders Rhône-Alpes PME Gestion, Caisse d'Epargne Rhône-Alpes Entreprises, Bpifrance (via its France Investissement Tourisme fund) and Institut Lorrain de Participation.Crédit Mutuel Equity has acquired a stake, alongside the Remy family, in order to help the company bolster its core business of operating medium-sized ski resorts and establish new growth drivers. In 2016, the Labellemontagne group generated consolidated revenue of €73 million by managing 11 resorts across four mountain ranges.

Labellemontagne is a family business founded in the Vosges region in 1961. It has been led by Jean-Yves Remy since 1989, and has become one of France's leading independent companies in the development, management and improvement of medium-sized ski resorts.

The group has pioneered artificial snowmaking for almost 50 years, and is constantly looking for new innovations.

The Labellemontagne brand arose from the desire to bring together all of the group's businesses and to ensure a firm foundation for its growth plans in the management of skiing areas and related activities (accommodation, restaurants etc.). The brand guarantees a high level of quality and service for both customers and concession-granting authorities, along with an innovative approach to tourism that maintains the friendly spirit and landscape that make its resorts so charming.

Labellemontagne has genuine expertise in operating ski-lifts and skiing areas, and in managing public service concessions, and intends to capitalise on those skills by developing new activities in the tourism industry, while remaining true to its values and market position.

This latest funding round enabled the Remy family to maintain its majority ownership and welcome Crédit Mutuel Equity (formerly CM-CIC Investissement) as a major new minority financial investor, alongside Caisse d'Épargne Rhône-Alpes Entreprises, Rhône-Alpes PME Gestion and Institut Lorrain de Participation - all of which increased their stakes - as well as Bpifrance's France Investissement Tourisme fund. The Labellemontagne group also secured new financing from its long-standing banking partners.

"This transaction represents a major milestone for Labellemontagne, which is aiming to bolster its leading position in managing medium-sized ski resorts and to secure its brand's long-term future in the winter sports market. It was also an opportunity for the group to diversify into other segments of the leisure and local-authority service sectors. We are delighted to have been able to attract some major new investors to accompany us with these new projects", said Jean-Yves Remy, Chairman.

"We believe that this company is now ideally positioned to strengthen its market share, while remaining true to its market position and values, which are very appealing for our group. We are pleased to have the opportunity to support this excellent SME and the Remy family in the next phase of their growth", added Nam Metzger and Pierre Barbier from Crédit Mutuel Equity.

Contact us