HURTIGRUTEN has announced it has been acquired by a consortium of existing investors, who will contribute hundreds of millions of dollars into the brand.
The funding will underpin Hurtigruten’s next chapter, completing the brand’s split from its expedition-focused sister marque HX.
The new investment of approximately €110 million in long-term funding will support the business’ future growth, with the transaction expected to close in January.
The ownership group will include existing investors Arini Capital Management, AlbaCore Capital, and Barings.
The move will also significantly reduce the outstanding debt of Hurtigruten by more than €1 billion, to €400 million, and extend their maturities until at least 2030.
“This is an important milestone for Hurtigruten,” Chief Executive Officer Hedda Felin emphasised.
“The transaction allows us to continue to deliver our long-term goals, enable sustainable growth, and enhance our customer experience.
“We look forward to working alongside the new investor group.
The investment was led by Arini’s Torben Geisler, who added; “Hurtigruten is a strong, storied brand that has made a name for itself for over a century as a world-class operator.
“Our investor group looks forward to backing the Hurtigruten management team and its employees to help the company achieve its significant potential while continuing to deliver exceptional travel experiences to its customers.”
