Hurtigruten acquired by consortium as...

Move cements split from former sister line HX

Hurtigruten has been acquired by a consortium of existing investors, cementing its split from former sister line HX – Hurtigruten Expeditions, which has been acquired by a separate consortium.

The new ownership of Hurtigruten includes investors led by Arini Capital Management, AlbaCore Capital and Barings, who will contribute more than €360 million of capital to the business.

The deals for both the Hurtigruten and HX takeovers are due to complete in January 2025.

The line said the change of ownership would have “no practical implications for Hurtigruten’s customer offering, business partners or daily operations” and includes about €110 million in new, long-term funding.

Hedda Felin, who remains chief executive, said: “This is an important milestone for Hurtigruten. The transaction allows us to continue to deliver our long-term goals, enable sustainable growth, and enhance our customer experience. We look forward to working alongside the new investor group.”

Torben Geisler, who led the Arini investment, added: “Hurtigruten is a strong, storied brand that has made a name for itself for over a century as a world-class operator.

“Our investor group looks forward to backing the Hurtigruten management team and its employees to help the company achieve its significant potential while continuing to deliver exceptional travel experiences to its customers.”

Hurtigruten will continue to be based in Oslo and will own and operate its fleet of 10 ships under the Norwegian flag. It employs almost 2,000 staff in sea and land-based roles.

The line said the takeover would “significantly reduce the outstanding debt of the company and its parent group by over €1 billion, resulting in remaining debt of approximately €400 million, and extending the maturities to at least 2030”.

It reported a 24% year-on-year increase in bookings for 2025 in the year to November 24 and said it was “poised for further acceleration” in 2026.

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