Pale Fire Capital has divested its 20% stake in Saunia to existing shareholders, focusing on more aligned strategic investments.

Target Company Overview

Saunia is a prominent operator of sauna worlds, with a presence in shopping centers across the Czech Republic and Slovakia. The company offers a diverse selection of sauna types and cooling systems, catering to health-conscious consumers seeking relaxation and wellness experiences. Since its establishment, Saunia has expanded significantly, currently managing 15 locations and planning to open three additional branches this year, including a new sauna complex at the Thermal Hotel in Karlovy Vary.

Industry Overview in the Czech Republic

The wellness and spa industry in the Czech Republic has witnessed considerable growth in recent years, fueled by increasing health awareness among the population. Consumers are increasingly prioritizing wellness activities, leading to a surge in demand for services that promote relaxation and stress relief, such as sauna experiences.

Moreover, the rise of urban lifestyles and busy work schedules has created a lucrative market for wellness facilities located in convenient areas, such as sho