The world's only French-flagged cruise line hopes acquisition will boost its international presence
By
Rebecca Gibson |
Ponant has been acquired by Artémis, the holding company of French entrepreneur Francois Pinault.
Founded in 1988 by Sauvée and headquartered in Marseilles, Ponant is the world’s only French-flagged cruise line and currently operates five vessels. The line transports an average of more than 30,000 passengers to the polar regions and other destinations worldwide each year. By the end of 2015, its turnover is expected to top €145 million.
Since 2012, Ponant has been owned by Bridgepoint, a European investor on the unlisted market. 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 last three years, together we have launched and financed new ships, opened new offices in Australia and China, and acquired a leading player in the American cultural cruise market,” said Jean-Emmanuel Sauvée, co-founder and CEO of Ponant. “Today we are entering a new phase with a long-term shareholder who, like Bridgepoint, shares our vision and ambitions for Ponant as a global player in the high-end cruise market.”
Ponant now aims to work with Artémis to ramp up its ‘internationalisation programme’ and consolidate its place in the French, Swiss and Belgian markets.