The Icelandic Competition Authority has cleared Blue Lagoon hf.’s acquisition of Arctic Adventures hf. without conditions. The approval satisfies the sole remaining condition of the purchase agreement between the two companies, and completion of the transaction is expected in the coming weeks.
The acquisition was announced in June 2026, subject to due diligence by both companies, approval by their shareholders’ meetings and clearance by the Icelandic Competition Authority. The first two conditions had already been satisfied. The aim of the acquisition is to ensure that Blue Lagoon continues to lead the development and investment that position Iceland as one of the world’s foremost experience and wellness destinations.
“Exciting times lie ahead. We are joining the Blue Lagoon group with strong operations across the country, extensive expertise, a robust sales and operational culture and, not least, outstanding people. By combining the companies’ complementary strengths, we create new opportunities to develop services and experiences, reach more guests and strengthen Iceland’s position as a destination,” says Ásgeir Baldurs, CEO of Arctic Adventures.
The acquisition creates one of the largest groups in Icelandic tourism. The companies’ combined revenue amounted to approximately ISK 34.3 billion in 2025, and together they employ around 1,100 full-time equivalents.
“We have a clear vision for how we intend to grow in the coming years: by strengthening our core operations, through development projects across the country and through external growth. The acquisition of Arctic Adventures is part of that journey. Arctic Adventures’ brands will continue to thrive, and we look forward to working with its people,” says Sigríður Margrét Oddsdóttir, CEO of Blue Lagoon.
Blue Lagoon is currently preparing to list its shares on the Nasdaq Iceland Main Market this month. Landsbankinn Corporate Finance and Fossar Investment Bank are managing the planned share offering. Landsbankinn Corporate Finance also advised Blue Lagoon on the acquisition of Arctic Adventures.
Blue Lagoon hf. is the parent company of a group of strong companies, each a leader in its field, focused on experiential tourism, health and wellness, skincare and the development of sustainable destinations. All our operations are founded on many years of research, design and innovation, guided by respect for nature. The interplay of well-defined design and business priorities has positioned our subsidiaries at the forefront of their categories.
