Press release -
Acquisition of Hurtigruten Completes with New Capital for Growth Ambitions
- Transaction Completion Marks Exciting New Chapter for Hurtigruten as a Standalone Business
- New Capital of approximately EUR 400m provides Long-Term Funding and Capital Structure Support for the Continued Development of Hurtigruten’s World-Class Operations
OSLO, Norway – February 12, 2025: Hurtigruten Group AS (the “Company”, together with its subsidiaries, “Hurtigruten”) today announces the completion of its acquisition by a consortium of investors (“the Consortium”). The closing of this transaction concludes the process to separate Hurtigruten from Hurtigruten Expeditions Holdings Ltd (together with its subsidiaries, “HX”) – both were previously part of one corporate group.
The Consortium consists of existing investors led by Arini Capital Management, AlbaCore Capital and Barings. At transaction completion, long-term capital investment of approximately EUR 400m resulting from the transaction will enable Hurtigruten to continue to deliver the best guest experience as Norway’s leading coastal cruise line with 131 years of legacy, and explore future growth and development opportunities.
Hedda Felin, Chief Executive Officer at Hurtigruten, said, “Today, we have new owners, and we have put in place a very solid foundation for Hurtigruten's future growth and development. With the completion of this transaction, Hurtigruten is once again a company focusing exclusively on its two core tasks as a coastal express operator and provider of cruise experiences along the Norwegian coast.”
Hurtigruten is seeing strong demand for its products. At the end of 2024, advance bookings for 2025 and 2026 were significantly higher than 2024 and 2025 advance bookings were at the end of 2023.
“We manage an outstanding brand with a unique market position in the international market. Now, we look forward to continuing to offer guests from around the world the most authentic experience of the Norwegian coastline,” said Felin.
Hurtigruten will be headquartered in Oslo, Norway and will own and operate 10 ships under the Norwegian flag.
Today’s announcement will not affect Hurtigruten’s customer bookings, employment terms, business partners or day-to-day operations.
Media requests and questions can be directed to press@hurtigruten.com
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About Hurtigruten
Hurtigruten is a Norwegian shipping and travel company operating the legendary coastal route between Kirkenes and Bergen, often called "the world's most beautiful sea voyage." In addition to the traditional route, Hurtigruten offers signature routes such as the North Cape Line and the Svalbard Line, with a fleet of ten ships in total.
Since its founding in 1893, Hurtigruten has transported local passengers, essential cargo, vehicles, and tourists to 34 ports along Norway’s coast, with safety and expertise as top priorities.
As one of Norway’s largest maritime employers, Hurtigruten employs some 2,000 people, of which 1,300 are seafarers and apprentices. The company collaborates with local suppliers to provide world-class local cuisine on board and offers carefully selected excursions for guests, in partnership with local operators.
Sustainability is at the heart of Hurtigruten’s mission. In 2009, the company eliminated the use of heavy fuel oil, and the fleet now includes four hybrid ships. Through its ambitious Sea Zero program, Hurtigruten aims to operate an emission-free ship in regular service by 2030.
