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Dubai Holdings Company Acquires Pacha Group’s Clubs and Hotels in €320m Deal

todayJuly 14, 2023 38

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Dubai Holdings Company Acquires Pacha Group’s Clubs and Hotels in €320m Deal

In a significant deal, Dubai-based company FIVE Holdings has acquired a stake worth €320 million in Pacha Group, as reported by Diario De Ibiza. The CEO of FIVE Holdings, Kabir Mulchandani, successfully negotiated the acquisition with Trilantic Capital Partners, the current owners of the renowned nightlife conglomerate. Under the agreement, FIVE Holdings will oversee the management of Pacha Group’s hotels and nightclubs, including iconic venues like Pacha and Destino in Ibiza, as well as establishments in Mykonos, Barcelona, and Munich.

Trilantic will retain ownership of the upmarket club brand Lío, famous for its captivating cabaret shows and exquisite dining experiences. According to reports, plans are underway to expand Lío with new branches in Miami, Las Vegas, and Dubai, where it will be situated within the Five Luxe Hotel owned by FIVE Holdings. Currently, Lío operates in Ibiza, Mallorca, Mykonos, and London.

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While confirming the transaction, a source close to Trilantic stated, “Pacha Group will continue to be one of the world’s leading lifestyle and music brands,” while refraining from disclosing specific details or figures regarding the deal. This partnership positions FIVE Holdings as a key player in the management of Pacha Group’s renowned venues.

The acquisition represents a strategic investment for FIVE Holdings, as Pacha Group’s umbrella company, Universo Pachá SA, experienced a remarkable 40 percent increase in revenue compared to pre-pandemic figures, making it a profitable brand. Moreover, this deal will enable Pacha Group to repay its €18 million loan received from the Spanish government during the pandemic.

FIVE Holdings, a prominent real estate and hospitality group based in Dubai, initially launched as SKAI Holdings in 2011 before rebranding in 2017. Trilantic had acquired Pacha Group for €350 million in 2017, further solidifying their presence in the global nightlife industry.

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Written by: AIT

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