Urgell, founder of the Pachá Ibiza Group, assures that the sale of the holding's assets to Trilantic Capital Partners is about to become effective
It seems that the sale of the Pachá Group that so many rumors has generated is about to become a reality. Ricardo Urgell, the founder of the famous holding company, explained to a well-known Ibiza media that the transaction is practically closed.
The same Urgell offering in early summer a press conference on the occasion of the 50 anniversary of his business career in which he ensured that The rumors about the sale were not true.
Finally, everything seems to indicate that one of the news that has been the most speculated since last summer will be confirmed soon.
According to Urgell, the Group went on sale for 500 millions of euros, however, this figure has had to be lowered due, among other things, to the high taxes derived from the transaction (about 100 million). At the end 350 have been agreed million.
The deal includes all the assets of the Pacha Group, ie the discotheque of the famous cherries, the cabaret restaurant Mess, Hotel Pasha, Destination Pachá Ibiza Resort, All franchises, Pachá Sitges and multimedia media.
Presumably, it will be the US private equity fund Trilantic Capital Partners who takes over the business. A group created in 2009 by five ex-partners of Lehman Brothers, one of the largest investment banks in the world.
Although Urgell maintains that there is still time to back down, he has also confirmed that "the operation is practically done."
According to several media outlets, the founder of the group "does not share the new concept of the high-income Ibiza promoted by Abel Matutes J. and his children do not want to take the lead." These would be some of the reasons that have led you to consider the sale.
Half a century of history
La first nightclub Pachá was inaugurated in Sitges on 1967 and then in 1973, Urgell opened a second local in Ibiza. The latter was the one that brought him the international fame he has today. Today, Grupo Pachá has expanded your brand for a total of eleven cities like New York, Brazil, Germany, England or Dubai. It also has several fashion shops, hotels, restaurants and, among other businesses, a label.
In last year its turnover amounted to 78 million euros of which 11 million correspond to net profits.