Back in September, founder Ricardo Urgell announced that Pacha Group was up for grabs, starting at an asking price of €500 Million. Today Pacha Group, has been sold to venture capital firm Trilantic Capital Partners for €350 million.
Now, four months down the line, Urgell and representatives from Trilantic have reached an agreement. According to Diario De Ibiza, the new owners are a global company with a particularly strong presence in Italy and Spain.
Trilantic will assume control of all of Pacha Group’s various ventures around the world, from Ibiza venues Pacha, Destino and Lío to the international franchise that includes clubs in Barcelona, Sydney and Munich. It will also manage Pacha Sitges, the original nightclub opened by Urgell in 1967. In terms of making changes to the way the company is run, Trilantic has said that it plans to increase the amount of staff in Ibiza by a “notable amount.”