KKR and an affiliate of KSL Capital Partners (KSL) have entered into a definitive agreement to acquire Philadelphia-based hospitality company Apple Leisure Group from Bain Capital Private Equity.
The financial terms of the transaction, subject to customary regulatory approvals and expected to close during the first quarter of 2017, were not disclosed.
and KKR’s investment is being made principally from its eleventh Americas Private Equity investment fund.
Led by Alex Zozaya, Chief Executive Officer, Apple Leisure Group is a North American seller of all-inclusive vacation packages via a collection of subsidiaries including:
– AMResorts (hotel management and marketing services),
– Amstar (the largest destination management company for Mexico and the Dominican Republic),
– a portfolio of travel distribution brands (Apple Vacations®, Travel Impressions®, CheapCaribbean.com®), and
– the Unlimited Vacation Club travel program.