Confianz counsels Grupo Azul Marino on its acquisition by Iberostar
Confianz has counselled Grupo Azul Marino on its acquisition by World2Meet, the travel division of the Iberostar hotel group
With this operation, World2Meet increases its network of agencies with sales to end customers and improves its close contact and knowledge of the consumer. According to World2Meet, Azul Marino is one of the groups “with the best reputation in the sector.” It has more than 40 years of experience and the fifth-largest network in terms of the number of its own points of sale in Spain.
Founded in 1980 in Bilbao by Juan Mari del Hoyo, the Azul Marino Group integrates the network of 30 retail and wholesale agencies formed by Azul Marino Viajes, Club Marco Polo (long-distance wholesaler), Nervión Travel (wholesaler of European tours), Matx Cruceros (cruises), Keops Viajes (travel agency franchises) and Tupai (specialist in creating luxury experiences).
In this regard, Juan del Hoyo, CEO of Azul Marino, declared: “We are very excited to join what we believe is the best tourism project in Spain. We are joining a modern vertical group that is very prepared for the future. Together we are going to be very strong.” In this new phase, the Del Hoyo brothers will remain at the head of the management team.
Manuel Urrutia, managing partner of Confianz assured: “The sale of a company can be an opportunity, the secret is to know how to find the most suitable buyer and negotiate the best way and the best price in the operation. This can result in a highly beneficial agreement for all parties involved.”
In this operation, Grupo Azul Marino has counted on Confianz as Financial and Legal advisor during the whole sale and purchase process.
Confianz´s team was led by its managing partner Manuel Urrutia (pictured left) and Corporate consultant and partner Teresa Urrutia. Financial advice was provided by Accounting Tax manager Alazne Dalmau. The Legal team included Tax & Legal partner Álvaro Mendiola (pictured to right) and Corporate senior lawyer Guillermo Angulo (pictured bottom right).