Holding company of French entrepreneur Francois Pinault to buy luxury cruise operator
By
Rebecca Gibson |
Bridgepoint is to sell luxury and polar cruise operator Ponant to Artémis, the holding company of French entrepreneur Francois Pinault.
Founded in 1988 by Sauvée and headquartered in Marseilles, Ponant employs 189 personnel and currently operates five vessels with an average age of 2.5 years and transports more than 30,000 passengers to the polar regions and other locations every year.
In 2012, French container shipping company Groupe CMA CGM sold Ponant to Bridgepoint. Following Bridgepoint’s acquisition, Ponant’s sales doubled to €140 million and its profits tripled. In addition, the company replaced two older vessels, opened new sales offices in China and Australia, and acquired TDI to open another sales distribution channel in North America.
“In the past three years we have introduced our specialist luxury cruises to new customers, launched new ships and grown our business significantly,” said Jean-Emmanuel Sauvée, co-founder and president of Ponant. “Today, we are entering a new period with a similar shareholder who shares our vision and ambition for Ponant within specialist luxury cruise market.”
Artemis, chaired by François-Henri Pinault, is the controlling shareholder of the Kering group whose assets include the fashion brands Gucci and Saint-Laurent, auction house Christie’s and Bordeaux wine estate Chateau Latour. This is the first cruise company acquisition.
The value of the transaction was not disclosed and is subject to standard Works Council and other European Union clearances.