Pacha Group, the renowned nightlife conglomerate, has undergone a significant change in ownership as Dubai-based company FIVE Holdings acquired a €320 million stake in the group. The deal was struck between FIVE Holdings CEO Kabir Mulchandani and the previous owners, Trilantic Capital Partners. As part of the agreement, Pacha Group will be divided between the two companies, with FIVE Holdings taking charge of managing the hotels and nightclubs, including the flagship venues Pacha and Destino in Ibiza, as well as locations in Mykonos, Barcelona, and Munich.

Trilantic will retain ownership of the upmarket club brand Lío, known for its cabaret shows and fine dining experiences. The company has plans to expand Lío with branches in Miami, Las Vegas, and Dubai, where it will be incorporated into the Five Luxe Hotel, owned by FIVE Holdings. Currently, Lío operates in Ibiza, Mallorca, Mykonos, and London.

While Trilantic has confirmed the transaction, no specific details regarding the deal have been disclosed. However, a source close to the company stated that Pacha Group will continue to be a leading brand in the lifestyle and music industry.

The acquisition by FIVE Holdings is a strategic investment in a highly profitable brand. Pacha Group's umbrella company, Universo Pachá SA, experienced a remarkable 40 percent increase in revenue last year compared to pre-pandemic figures, solidifying its strong financial performance. The deal will also enable Pacha Group to repay its €18 million loan received from the Spanish government during the pandemic.

FIVE Holdings, previously known as SKAI Holdings before rebranding in 2017, is a prominent Dubai-based real estate and hospitality group. Trilantic had initially acquired Pacha Group for €350 million in 2017.

When approached for comment, FIVE Holdings declined to provide further details at this stage. As the situation unfolds, more information regarding this ownership transition will be reported.