Hurtigruten confirmed it has been acquired by a consortium of existing investors and has received approximately 110 million euro in new, long-term funding.

The new setup provides a solid base for the future growth and continued development of Hurtigruten as Norway’s leading coastal cruise line. The closing of this transaction will mark the completion of the process to separate Hurtigruten from HX, which was also acquired.

Hedda Felin, Chief Executive Officer at Hurtigruten, said: “This is an important milestone for Hurtigruten. The transaction allows us to continue to deliver our long-term goals, enable sustainable growth, and enhance our customer experience. We look forward to working alongside the new investor group.”

Under the new ownership, which includes existing investors led by Arini Capital Management, AlbaCore Capital and Barings, Hurtigruten will continue to deliver the best guest experience on the Norwegian coast, the company said.

Torben Geisler, who led the Arini investment, said on behalf of the Consortium: “Hurtigruten is a strong, storied brand that has made a name for itself for over a century as a world-class operator. Our investor group looks forward to backing the Hurtigruten management team and its employees to help the company achieve its significant potential while continuing to deliver exceptional travel experiences to its customers.”