Businessman Kabir Mulchandani’s Five Holdings has emerged as the long-awaited “new partner” for Trilantic Capital Partners. Trilantic, who acquired Grupo Pacha’s renowned Lío cabarets, will entrust the hotel division and nightclubs to Dubai-based Five Holdings in a deal worth approximately €320 million.
While Trilantic Capital Partners remains in charge of overseeing the growth of the Lío cabarets, this strategic move bolsters their global expansion strategy and establishes Five Holdings as their esteemed collaborator. As part of the agreement, Grupo Pacha will repay the €18 million in government funding it received during the COVID-19 crisis. To effectively manage the distinct aspects of the business, two separate companies will be established.
We expect that the sale will not meaningfully change operations at the various Pacha venues and allow for future expansion around the world.