FIVE Holdings (BVI) Limited COMPLETION OF ACQUISITION OF UNIVERSO PACHA (8278P)
12 10월 2023 - 12:35AM
UK Regulatory
TIDMAU83
RNS Number : 8278P
FIVE Holdings (BVI) Limited
11 October 2023
FIVE Holdings
("FIVE", "the Company" or the "Group")
COMPLETION OF ACQUISITION OF UNIVERSO PACHA
FIVE Holdings Successfully Concludes Purchase of Entire Equity
Stake in Universo Pacha, with the exclusion of the Lío Brand
Dubai, UAE - 11 October 2023 - Dubai's renowned real estate and
hospitality conglomerate, FIVE Holdings, Founded and Chaired by
entrepreneur Kabir Mulchandani, is delighted to announce the
successful completion of its acquisition of a 100% equity interest
in the legendary nightlife entity, the Pacha Group, in a landmark
deal valued at EUR303 million. This acquisition marks a pivotal
moment in FIVE Holdings' strategic growth and worldwide expansion
journey.
The Pacha Group, a stalwart in the Spanish hotel and nightclub
industry and boasts of a rich history, dating back to 1973, with
iconic establishments such as Pacha Ibiza and Destino Pacha Ibiza.
The acquisition by FIVE Holdings has led to the division of the
Pacha Group into two distinct entities following the carve out of
the Lío brand - FIVE Holdings has assumed control of the Destino
Pacha and El Pacha hotels, along with the nightclub division.
The acquisition was funded through the issuance of a Green Bond
and a Revolving Credit Facility (RCF), reflecting FIVE Holdings'
commitment to sustainable practices and responsible investment.
FIVE Holdings' dedication to sustainability extends beyond this
transaction, as their operational hotels in Dubai achieved a
historic milestone in 2022 by becoming the first hotel chain in the
UAE to operate entirely on renewable electricity, through
International Renewable Energy Certification (I-REC).
The acquisition comprises a range of assets that includes the
Pacha Nightclub, Destino Pacha Hotel, El Hotel Pacha , Toy Room
Club, and WooMoon Storytellers (Globally) as well as registered
trademarks such as the brand name "Pacha" (Globally) and its
distinctive logo design featuring cherries (Globally), amongst
others.
FIVE Holdings is therefore poised to build upon this storied
legacy, promising a new era of exciting ventures in the
entertainment industry.
This acquisition represents a strategic investment in an iconic
brand and aligns with FIVE Holding's visionary approach to
expanding its presence in the global hospitality and entertainment
sectors. The Pacha Group, under its parent company Universo Pacha
SA, has been a trailblazer in the industry, and FIVE will leverage
its remarkable success for future developments over the global
entertainment landscape.
About FIVE Holdings:
FIVE Holdings, Founded and Chaired by Kabir Mulchandani, has
focused on real estate development and a thriving hospitality
division. The Group is a vertically integrated hospitality group,
and its current portfolio includes 2 luxury hotels in Dubai, FIVE
Palm Jumeirah and FIVE Jumeirah Village; 1 hotel in Zurich, FIVE
Zurich; and 1 hotel under development in Dubai, FIVE LUXE, which is
expected to be fully operational in 2024. The Group's focus on
entertainment was driven by guests' expectations, preferences and
spending patterns. The Group organises experiential events in
accordance with its guests' preferences and focuses its efforts on
'EATertainment,' which is the integration of high-energy
entertainment with F&B and event experiences resulting in a
distinctive guest experience that makes every hotel a coveted
destination for an international and affluent audience of
Millennials and Gen-Z customers. The Group has created strong brand
equity, particularly due to its hosting of homegrown popular events
and in-house management expertise.
About The Pacha Group:
The Pacha Group is a globally acclaimed lifestyle brand with a
strong presence in various sectors such as music, leisure,
entertainment, hospitality, fragrance, and fashion. It extends its
international footprint through well-known brands including Pacha
Ibiza (a famous nightclub), Destino Pacha Hotels, El Hotel, Casa
Pacha Formentera. Celebrating its 50th anniversary this year, the
Pacha Group is dedicated to sharing the essence of the Ibizan
Lifestyle with the world, characterised by a carefree,
sophisticated way of life infused with creativity, music, and a
spirit of acceptance.
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END
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October 11, 2023 11:35 ET (15:35 GMT)
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