Hurtigruten Expeditions eyes 'new growth opportunities' following acquisition
Ilaria Grasso MacolaA investment consortium has acquired Hurtigruten Expeditions (HX) which the cruise company says will accelerate the growth and innovation plans it has in place.
HX announced on Friday (29 November) it had obtained new funding worth €140 million (£116.5 million) as part of its sale to asset management companies Arini Capital Management and Cyrus Capital Partners.
Due to be completed in January, the acquisition will also finalise the separation of HX from sister company Hurtigruten, formerly known as Hurtigruten Norway. The separation is part of a rebrand initiated in September 2023 to drive growth across the two brands.
HX said the investment means it will be able to expand its product offering and invest in its fleet.
Chief executive Gebhard Rainer, who remains at the company’s helm following the sale, said: “During our 128-year history, we have taken guests on voyages to more than 250 destinations in 30 countries, and created amazing life-changing moments that alter the way our guests view the world.
“Today’s announcement will allow HX to further enhance our offerings to our guests, boost our focus on greener innovation and explore new destinations around the globe.”
James McArthur, chief financial officer at HX, said: "HX has an exciting future ahead, and I look forward to seeing what this fantastic business can achieve over the next few years.”
The consortium insisted it is committed to supporting HX in its mission to "provide guests with new and exciting travel experiences".
Torben Geisler, who led the Arini Capital Management investment, added: “We believe HX is poised to continue to build market share, and the group of investors is committed to providing the backing needed to accelerate its success."
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Place of registration: England and Wales.
Company number 08723341.
Registered address: 6th Floor, 2 London Wall Place, London EC2Y 5AU
