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Apple Leisure Group to Be Acquired By KKR and KSL Capital Partners



Hospitality company Apple Leisure Group is set to be acquired by financial firms KKR & Co. and KSL Capital Partners LLC , a private-equity firm specializing in hospitality and travel, from Bain Capital Private Equity.

Financial terms of the transaction were not disclosed. The deal is expected to close in the first quarter of 2017 and is subject to customary regulatory approvals.

Apple Leisure, a privately held company, boasts a broad portfolio including AMResorts (hotel-management services), Amstar (tour services in Mexico) and a Caribbean online travel agency Unlimited Vacation Club .

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KKR is in talks to sell Capsugel, a drug-capsule making. The deal is worth over $5 billion. Earlier this month, KKR agreed to buy cyber security company Optiv Security.

“Apple Leisure Group is a unique franchise with a differentiated market position as well as an impressive management team, ” said KKR Members Paul Raether and Tagar Olson. “We are pleased to be partnering with KSL to continue to grow the company and build upon its already premier reputation in the travel industry.”

KKR’s investment is being made principally from its eleventh Americas Private Equity investment fund.

Shares of KKR are have risen 12% so far this year.



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