Hilton Grand Vacations to acquire Bluegreen Vacations for $1.5B

Hilton Grand Vacations (HGV) announced that it has entered into a definitive agreement to acquire Bluegreen Vacations (BVH) for $75 per share in an all-cash transaction, representing total consideration of approximately $1.5B, inclusive of net debt. The acquisition is also expected to include an exclusive marketing agreement with Bass Pro Shops and its base of outdoor lifestyle enthusiasts. Expanding on Bluegreen Vacations’ existing relationship, HGV also announced today that it has signed a new 10-year exclusive marketing agreement with Bass Pro Shops. Under the terms of the agreement, Bluegreen Vacations stockholders are expected to receive $75 in cash for each share of Bluegreen Vacations. The all-cash transaction values Bluegreen Vacations at approximately $1.5B, inclusive of net debt. The transaction, which was unanimously approved by the board of directors for both companies, is expected to close during the first half of 2024 and is subject to customary closing conditions and regulatory approvals. HGV’s management team, including president and CEO Mark Wang, chief financial officer Dan Mathewes, and chief operating officer Gordon Gurnik, will continue to serve in their current roles upon transaction close.