KKR has agreed to acquire a significant minority stake in Etraveli Group, the Swedish travel technology platform backed by CVC Capital Partners, in a deal that values the business at approximately €2.7bn, according to a report by Bloomberg.
The investment, made via KKR’s Strategic Investments Group, will support Etraveli’s continued international expansion and product development. The group provides bespoke capital solutions to high-growth businesses and strategic partners.
Headquartered in Stockholm, Etraveli operates globally through online travel brands including Gotogate, Mytrip, and Flightnetwork. The company services nearly 50 million airline ticket customers annually across 75 markets, and powers flight booking capabilities for major global travel platforms including Booking.com, Radisson Hotel Group and TUI.
CVC first acquired Etraveli in 2017 from ProSiebenSat.1 Media SE. Since then, Etraveli’s earnings have quadrupled, with the platform now facilitating more than €15bn in flight sales per year.
A previously proposed €1.6bn acquisition of Etraveli by Booking Holdings was blocked by EU regulators in 2023 on competition grounds.
KKR’s investment in Etraveli continues the firm’s strategy of deploying capital into high-quality European assets through economic cycles. The firm has recently completed major transactions in the region, including Swedish consumer healthcare group Karo Healthcare and market infrastructure provider OSTTRA, and is currently pursuing the take-private of UK-listed testing and measurement company Spectris.
