Apple Leisure Group to be acquired by KKR & Co. and KSL Capital Partners
Staff Writer |
Apple Leisure Group said that funds affiliated with KKR & Co. and KSL Capital Partners have entered into a definitive agreement to acquire the company from Bain Capital Private Equity.
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Financial terms of the transaction were not disclosed.
Apple Leisure Group is the nation’s top seller of all-inclusive vacation packages, with a vertically integrated business model that leverages its capabilities and expertise to deliver exceptional value to travelers, and distribution reach and resort management expertise for hotel owners.
Apple Leisure Group’s collection of leading subsidiaries includes AMResorts (hotel management and marketing services), Amstar (the largest destination management company for Mexico and the Dominican Republic), a portfolio of travel distribution brands (Apple Vacations, Travel Impressions, CheapCaribbean.com), and the exclusive Unlimited Vacation Club travel program.
“We are pleased to be partnering with KKR and KSL for our next phase of growth,” said Alex Zozaya, CEO of Apple Leisure Group.
“Apple Leisure Group is a unique franchise with a differentiated market position as well as an impressive management team,” said KKR Members Paul Raether and Tagar Olson.
"Apple Leisure Group has emerged as a truly differentiated market leader, with a strong management team executing a strategic growth plan while continuing to deliver exceptional service and real value to leisure travelers," said Phil Loughlin, a Managing Director at Bain Capital Private Equity.
The transaction is expected to close during the first quarter of 2017, and is subject to customary regulatory approvals. ■
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