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An agreement has been signed for Kynnisferðir to acquire the tourism company Actice ehf., which operates under the brand name Activity Iceland. A merger notification is being prepared for the Icelandic Competition Authority, and due diligence is currently underway.
Actice specializes in tailor made travel solutions in the Icelandic wilderness. The company operates 13 modified super jeeps and offers a variety of other services for travelers.
Kynnisferðir, which operates under the ICELANDIA brand, is one of the country's largest tourism companies. The company's group includes Reykjavik Excursions, Icelandic Mountain Guides, Iceland Rovers, Dive.is, Flybus, the towing company Garðaklettur, and Kynnisferðir's public transport division, in addition to being the representative for Enterprise Rent-a-Car in Iceland.
"Our acquisition of Actice further increases the diversity of our operations and gives us the opportunity to provide our customers with an even wider range of products and unique experiences in the Icelandic nature. We look forward to welcoming Harpa Groiss and Harald G. Bender, along with their excellent staff, to our strong and diverse team of employees," says Björn Ragnarsson, CEO of Kynnisferðir.
"The last 7 years have been exciting and eventful for our business, and we are grateful to our staff and customers. A new chapter now begins for us with Kynnisferðir, and together we will continue the good work that we have sincerely carried out from the beginning. Activity Iceland will now be the newest link in a fantastic whole, and there are exciting times ahead and many opportunities waiting for us under the ICELANDIA umbrella." say Haraldur, Harpa, and Guðjón, the owners of Actice.
Arctica Finance and BBA//Fjeldco served as advisors to Kynnisferðir, while AOS Consulting and KRST Attorneys acted as advisors to the sellers.
