Hurtigruten and HX finalise split...

Separation provides opportunities to "deliver next phase of growth"

Hurtigruten and HX Hurtigruten Expeditions have completed the final stages of acquisition by separate groups of investors.

The closing of the transactions finalises the process to separate the two companies which were previously part of one group.

Both lines said the acquisitions would not affect customer bookings, employment terms, business partners or day-to-day operations.

Hurtigruten was acquired by a consortium of investors led by Arini Capital Management, AlbaCore Capital and Barings.

The deal brings a long-term capital investment of €400 million (US$435 million) to enable the line to “deliver the best guest experience as Norway’s leading coastal line”.

Hedda Felin, Hurtigruten CEO, 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.”

HX Hurtigruten Expeditions was acquired by a consortium of investors, led by Arini Capital Management, Cyrus Capital Partners and Tresidor Investment Management.

The line confirmed the acquisition included €140 million of “new junior funding” to support new growth and destination opportunities.

It added it would carry out “material upgrades” to MS Fram and MS Spitsbergen in the second quarter of this year.

In March 2025, the line introduced new colours across its fleet to differentiate itself from its former partner and avoid confusion in places such as Norway where the two brands will still co-exist.

Gebhard Rainer, HX CEO said in a previous interview that he plans to “seriously expand” the line’s fleet, either with new or refurbished ships, and would like to explore warm-water destinations.

He said: “Today’s announcement is an important day in HX’s history as we continue our journey as a standalone company with the resources and strategic support to deliver on our next phase of growth and innovation, which will benefit our employees, guests and strategic partners.

“We look forward to exploring new growth opportunities around the globe and enhancing our industry-leading customer offering and creating the very best in mindful travel experiences.”

For more information, visit Hurtigruten’s B2B Agent Portal at agentportal.hurtigruten.com and www.hurtigruten.com. For travel trade enquires, visit www.connectingtravel.com/cruise-hub/hurtigruten or contact Carla Hines, Head of Sales EMEA, on +44 (0) 7826 912 426 or carla.hines@hurtigruten.com

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