Bluegreen Vacations Holding Corporation (NYSE: BVH) (OTCQX: BVHBB) announced it has entered into a definitive agreement to be acquired by Hilton Grand Vacations Inc. (NYSE: HGV) for $75.00 per share in an all-cash transaction, representing a total enterprise value of approximately $1.5 billion, inclusive of net debt.
Bluegreen Vacations is headquartered in Boca Raton, Florida, and has 49 Club Resorts and 24 Associate Resorts in selected vacation destinations such as Orlando, Panama City Beach, Las Vegas, the Smoky Mountains, Myrtle Beach, Charleston, the Branson, Missouri area, Nashville and New Orleans.
“Today’s announcement represents another exciting chapter for Bluegreen Vacations,” said Alan Levan, the company’s chairman and CEO. “Combining with HGV will create an even more compelling vacation ownership offering, continuing to provide our owners and guests with enjoyable and unique experiences across a broader range of world-class destinations. I am extremely proud of the entire Bluegreen team for helping build Bluegreen into a leading vacation ownership company.”
“I’m excited to enhance the breadth and quality of our already best-in-class vacation ownership and experiences offering with the announcement of our agreement to acquire Bluegreen Vacations,” said Mark Wang, president and CEO of Hilton Grand Vacations. “Bluegreen Vacations has a strong track record of demonstrated organic growth, a dedicated customer base of more than 200,000 members, and boasts key lead-generating strategic partnerships that will broaden our reach and diversify our tour flow.”
Photo: Shorecrest Villas at North Myrtle Beach, South Carolina, a Bluegreen property; photo by Edwin / Wikimedia Commons
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