Advised on Sale of Company


France Thermes

French Thermal Group France

Acquired 100% of Business Operations

Compagnie de Vichy

French Thermal Group France

Advised Compagnie de Vichy on its sale to France Thermes

France Thermes is a group specializing in the development and operation of the thermal and tourist establishments of Bagnoles-de-l'Orne (Orne, Normandy) and Châtel-Guyon (Puy-de-Dôme, Auvergne-Rhône-Alpes). The thermal spas generate a turnover of approximately €20 million euros and employee 200 staff.


With the addition of Compagnie de Vichy’s assets and the activities that it operates, the France Thermes group includes several complementary activities: operation of the thermal baths and facilities and associated hotels, sale of mineral water under the “Vichy Célestins” brand, management of the Vichy brand and advisory and engineering services for the creation and rehabilitation of Spa Hotels.


France Thermes’s strategy is to create and develop distinctive and unique thermal and touristic resorts. With this latest acquisition it becomes the second largest thermal spa company operating in the French thermal resorts market.

Experts who worked on the transaction