[Alpha Biz= Reporter Kim Sangjin] MBK Partners has acquired Eagle Mont Country Club (Eagle Mont CC) in Anseong, Gyeonggi Province, for approximately 2.45 trillion KRW, marking a significant deal in the golf industry. The per-hole price exceeds 90 billion KRW, higher than the average per-hole price of 84 billion KRW for golf course transactions in the Seoul metropolitan area over the past five years. The premium price is attributed to the rarity of golf courses in the area.
According to investment banking sources on the 21st, MBK Partners recently acquired Eagle Mont CC through its subsidiary, GC Sacheon, a company under Golfzon County, at a price of about 2.45 trillion KRW (around 90.7 billion KRW per hole). This acquisition involved purchasing 100% of the shares in Hidden Palace, the company that owns Eagle Mont CC.
The price surpasses per-hole prices of other recently traded golf courses such as Golf Club Anseong Q (78 billion KRW per hole), Anseong Adenhill (78 billion KRW), Sky Valley (72 billion KRW), and Seragio (85 billion KRW). Despite the economic downturn and decreased golf course revenues since the COVID-19 pandemic, the transaction price for Eagle Mont CC was higher than expected. Sources suggest that this indicates the increasing differentiation of golf course prices based on regional location and quality of facilities, which may lead to more interest in golf course mergers and acquisitions (M&A) in the future.
Eagle Mont CC is a public 27-hole golf course spanning 161,9834㎡, featuring well-preserved natural terrain. The course includes a 62,8099㎡ circular conservation area constructed by CJ Logistics' construction division. The course is praised for its harmonious integration with the natural landscape.
Golfzon County, which operates golf courses nationwide, is the largest domestic player in the industry. MBK Partners established Golfzon County in 2018 with a 50% stake, investing 1.14 trillion KRW. Following this, MBK Partners participated in four rounds of capital increases, injecting an additional 2.88 trillion KRW.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
