Pacha Group, the renowned conglomerate in the nightlife industry, has been acquired by Dubai-based company FIVE Holdings in a substantial deal worth €320 million, as reported by Diario De Ibiza.
The acquisition was led by Kabir Mulchandani, CEO of FIVE Holdings, in collaboration with the current owners, Trilantic Capital Partners. Under this agreement, the responsibilities for Pacha Group will be divided between the two companies. FIVE Holdings will assume management of the hotels and nightclubs, including iconic venues like Pacha and Destino in Ibiza, as well as locations in Mykonos, Barcelona, and Munich.
Trilantic Capital Partners, on the other hand, will retain ownership of Lío, the upscale club brand known for its captivating cabaret shows and exquisite dining experiences. Future plans for Lío include expansion into Miami, Las Vegas, and Dubai, where it will become part of the Five Luxe Hotel, owned by FIVE Holdings. Currently, Lío operates in Ibiza, Mallorca, Mykonos, and London.
A representative from Trilantic confirmed the completion of the deal, although specific financial details were not disclosed. The representative emphasized that Pacha Group will continue to maintain its position as a leading global lifestyle and music brand.
The acquisition by FIVE Holdings presents a significant opportunity for further growth and development of the Pacha Group, marking a new chapter in its illustrious history.
Written by: Artificial Intelligence Technology