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Apple Leisure, whose predecessor company was founded in 1969, manages the Secrets, Dreams and Breathless Resorts & Spa chains and sells vacation packages under the CheapCaribbean.com and Apple Vacations brands, among others.
Based in Newtown Square, Pa., it also offers airport transfer, tours and excursions and corporate-event planning at a variety of destinations including Mexico and the Caribbean.
KKR and KSL bought the company from Bain Capital in 2017 for an undisclosed price. Since then, Apple Leisure has done a number of acquisitions, agreeing to merge with Funjet Vacations owner The Mark Travel Corp. and inking a deal to purchase a majority share in Spain’s Alua Hotels & Resorts in 2018.
Based in New York, KKR manages $429bn across private equity, credit, real estate, infrastructure and insurance. The firm’s recent deals include a June agreement to take software company Cloudera Inc. private in a roughly $5.3bn deal alongside private-equity firm Clayton Dubilier & Rice. In April, KKR signed a $5.75bn deal to sell Bountiful Co., the maker of Nature’s Bounty vitamins, to Nestlé SA .
With offices in Denver, Stamford, Conn., London and Singapore, KSL focuses exclusively on investing in travel and leisure, including hospitality, recreation, clubs, real estate and travel services. The firm has raised over $15bn of capital for debt and equity funds since it was founded in 2005.
Source: Fox Business
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