The Zoute company is spinning its golf course against a backdrop of renovation

The golf institution, now housed in a separate entity, underwent extensive work last year to recover its standing of yesteryear. A development that has definitely played on its valorization

The golf activity of the Zoute Company takes off. Here it is now housed in a separate entity, named after Royal Zoute Golf Club .

A discreet operation that has led some observers to look into what this branch of the empire may well be worth of the Lippens family. The figure of 5 million euros was mentioned, on the basis of the contribution in kind of the badets concerned in the operation.

Few? Interviewed, Bernard Jolly, Chairman of the Board of Directors of the Compagnie du Zoute, explains that " the valuation that has circulated is nonsense, because it takes over land still valued at 100 Belgian francs . This amount is misleading ". And below the reality, can we easily add.

By cons, " it is a fact that golf has fundamentally changed value since last year ", he readily admits , following the investments made to bring the golf institution back to its former status. The visitor parking was redone, as was the caddyhouse and the irrigation system, when the machine park was renewed . The goal? A return among the top 20 golf courses in continental Europe, but also attract fans of the small white ball disappointed – a sharp drop (20%) in the number of visitors was recorded in 2017 following the great drought that has " hard hit the greens "

In total, the costs incurred range from 500,000 to almost one million euros, based on the indications gleaned in the group's annual report. What amount exactly? Motus. As well as the value of the golf itself, for which a valuation was nevertheless made in August by Transaction R (Rothschild). " It is very difficult to put a value on a golf because there are very few elements of comparison ", explains Bernard Jolly.

For the rest, regarding the operation of separation of the golf activity of the whole that is the Zoute Company, " there is nothing special ", according to the president of the board of directors. " This is just a subsidiary of activity ", the desire of the group that each profit center be housed in a separate entity.

In short, the situation is rather quiet on the side from Knokke. Except that anyone who looks at the latest publications of the group, can read that " The Company will badyze ways to make the best use of its know-how and apply it in the future to the management of others golf clubs ". Would a new golf be in sight, in Cadzand for example? " I have no explanation on this point Dodge Bernard Jolly We are open to other possibilities and, if opportunities arise, we will look at them. to tell you that there is nothing in the boxes for the time being. "