Pacha Ibiza main room, Ibiza. 2015 - Credits : Pacha Ibiza
Pacha Ibiza main room, Ibiza. 2015 - Credits : Pacha Ibiza

Pacha Group sold to Trilantic Capital Partners for 350 million euros

Alexandre Trochut

The founder and owner of Grupo Pachá, Ricardo Urgell has confirmed the agreement with managers of Trilantic Capital Partners.

The emblematic leisure group, which grew from the nightclub Pacha Ibiza, passes into the hands of the venture capital fund, Which has a presence all over the world and especially in Spain and Italy after the negotiations for the sale of Grupo Pacha was advanced by Ricardo Urgell himself in an interview in mid-October last year :

It hurts me a lot to sell Pacha. [the sale includes] All the assets of the Group. This is the Pachá nightclub, the Hotel Pacha, the restaurant club Cabaret Lío, Destino Pachá Ibiza Resort, the international and national franchises, the multimedia media and even the Pacha of Sitges. Grupo Pacha has been like a son to me. – Ricardo Urgell

The new owners of the cherries, Trilantic Capital Partners, reported that they are not only planning to maintain the current number of workers on the island of Ibiza, but even plans to significantly increase the workforce.

The venture capital fund Trilantic Capital Partners had several meetings with Iberian authorities last October to make them aware of the project and its intentions. On October 22th, 2016, a small delegation of the company met with the mayor of Santa Eulària, Vicent Marí. It is precisely in this municipality where Pachá has kept more friction with the City Council, since the Hotel Destino, in Cap Martinet, is often subject to sanctions for noise by the Consistory.

A day later, the representative of Trilantic met with the mayor of Ibiza, Rafa Ruiz. In this municipality, Pacha has the club but also the Lío restaurant and the Hotel Pacha, close to the Marina Botafoch area.