Belmond Officially Joins the LVMH Family in Finalised Acquisition
Joining forces through a formal acquisition effective this April, Belmond’s acquisition by luxury giant LVMH has been finalised.
LVMH Moët Hennessy Louis Vuitton SE (LVMH.PA), the world’s leading luxury group, and Belmond Ltd, owners, part-owners or managers of 45 luxury hotel, restaurant train and river cruise properties, today declared that the acquisition of Belmond by LVMH has been completed.
Belmond is a global collection of exceptional hotel and luxury travel adventures in some of the world’s most inspiring and enriching destinations. Established over 40 years ago with the acquisition of Belmond Hotel Cipriani in Venice, its unique and distinctive portfolio now embraces 45 hotel, rail and river cruise experiences, excluding one scheduled for a 2018 opening in London, in many of the world’s most celebrated destinations.
From city landmarks to intimate resorts, the Belmond collection includes Belmond Grand Hotel Europe, St. Petersburg; Belmond Copacabana Palace, Rio de Janeiro; Belmond Maroma Resort & Spa, Riviera Maya; and Belmond El Encanto, Santa Barbara. Belmond also encompasses safaris, seven luxury tourist trains, including the Venice Simplon-Orient-Express, and two river cruises. Belmond also operates ‘21’ Club, one of New York’s most storied restaurants.
LVMH Moët Hennessy Louis Vuitton is represented in Wines and Spirits by a portfolio of brands that includes Moët & Chandon, Dom Pérignon, Veuve Clicquot Ponsardin, Krug, Ruinart, Mercier, Château d’Yquem, Domaine du Clos des Lambrays, Château Cheval Blanc, Colgin Cellars, Hennessy, Glenmorangie, Ardbeg, Belvedere, Woodinville, Volcán de Mi Tierra, and many more luxury names.
This transaction, which was announced on December 14, 2018, received approval from Belmond’s shareholders on February 14, 2019, and closed effective on April 14, 2019.
Under the terms of the $3.2 billion enterprise value transaction, Belmond’s shareholders received $25.00 per Class A share in cash. With the completion of the acquisition, Belmond’s Class A common shares will no longer be listed on the New York Stock Exchange.
For more information about LVMH and their brands, visit www.lvmh.com.