FIVE Holdings Acquires The Pacha Group
FIVE Holdings, founded and chaired by entrepreneur Kabir Mulchandani, has completed its acquisition of a 100% equity interest in the legendary nightlife entity, The Pacha Group, in a landmark deal valued at €302.5 million in October 2023. This acquisition marks a pivotal moment in FIVE Holdings’ strategic growth and worldwide expansion journey.
FIVE Holdings Acquires The Pacha Group
FIVE Holdings, founded and chaired by entrepreneur Kabir Mulchandani, has completed its acquisition of a 100% equity interest in the legendary nightlife entity, The Pacha Group, in a landmark deal valued at €302.5 million in October 2023. This acquisition marks a pivotal moment in FIVE Holdings’ strategic growth and worldwide expansion journey.
The Pacha Group, a stalwart in the Spanish hotel and nightclub industry and boasts of a rich history, dating back to 1973, with iconic establishments such as Pacha Ibiza and Destino Pacha Hotel Ibiza. The acquisition by FIVE Holdings has led to the division of the Pacha Group into two distinct entities following the carve out of the Lío brand - FIVE Holdings has assumed control of the Destino Pacha Hotel Ibiza (now Destino Five Ibiza) and Pacha Hotel hotels, along with the nightclub division.
The acquisition comprises a range of assets that includes the Pacha Nightclub, Destino Five Ibiza, Pacha Hotel, Toy Room Club, WooMoon Storytellers (Globally) and The Pacha Collection as well as registered trademarks such as the brand name “Pacha” (Globally) and its distinctive logo design featuring cherries (Globally), amongst others.
FIVE Holdings is therefore poised to build upon this storied legacy, promising a new era of exciting ventures in the entertainment industry.
This acquisition represents a strategic investment in an iconic brand and aligns with FIVE Holding’s visionary approach to expanding its presence in the global hospitality and entertainment sectors. The Pacha Group, under its parent company Universo Pacha SA, has been a trailblazer in the industry, and FIVE will leverage its remarkable success for future developments over the global entertainment landscape.
The acquisition comprises a range of assets that includes the Pacha Nightclub, Destino Five Ibiza, Pacha Hotel, Toy Room Club, WooMoon Storytellers (Globally) and The Pacha Collection as well as registered trademarks such as the brand name “Pacha” (Globally) and its distinctive logo design featuring cherries (Globally), amongst others.
FIVE Holdings is therefore poised to build upon this storied legacy, promising a new era of exciting ventures in the entertainment industry.
This acquisition represents a strategic investment in an iconic brand and aligns with FIVE Holding’s visionary approach to expanding its presence in the global hospitality and entertainment sectors. The Pacha Group, under its parent company Universo Pacha SA, has been a trailblazer in the industry, and FIVE will leverage its remarkable success for future developments over the global entertainment landscape.
A CULTURAL REVIVAL ROOTED IN BROOKLYN, IGNITING THE FUTURE OF GLOBAL NIGHTLIFE
The iconic Brooklyn Mirage enters a bold new era as Pacha New York, ushering in a powerful revival of dance culture in a borough synonymous with artistic rebellion, diversity, and musical innovation. More than a venue, Pacha New York is a cultural
platform where global icons, underground pioneers, and New York’s creative communities unite in celebration of music, movement, and human connection.
FIVE Holdings has entered into a long-term agreement assuming full operational management of the Brooklyn Mirage and The Great Hall complex. The partnership brings together the recapitalized Avant Gardner’s deeply rooted local legacy with Pacha’s globally celebrated expertise in building culturally defining destinations and large-scale entertainment experiences.
The result is Pacha New York — the next evolution of a brand shaped by more than 50 years at the forefront of dancefloor culture worldwide. From June through October 2026, Pacha New York ignites its first season with world-class performances that place international headliners and homegrown talent on the same stage - a true reflection of the diverse soundscape shaping modern electronic music. Expect the world’s most sought-after electronic artists, Grammy-winning performers, and large-scale shows rarely seen in New York City, delivered with the production depth and ambition the culture deserves.
Beyond the summer season, the soon-to-be upgraded Great Hall will continue to operate year round as a multi-genre arena for live acts and next-generation sounds, ensuring the energy never fades. Yet for all its global pull, the heartbeat of Pacha New York remains unmistakably Brooklyn - with ongoing partnerships with local artists, collectives, and promoters, keeping the space rooted in and reflective of the community that built this dancefloor’s legacy in the first place.
“New York - the financial and cultural capital of the world - represents more than a market expansion for FIVE and Pacha; it marks a defining moment in our global journey. This move reflects the strength of our vision, the resilience of our platform, and our ambition to help shape the future of entertainment on a global stage. We are entering a city that influences how the world thinks, creates, and connects - and we do so with bold imagination, long-term commitment, and the confidence to build destinations that
resonate far beyond their physical walls. For us, New York is not simply a new chapter - it is a statement of intent about the scale of our aspirations and the cultural impact we are here to create,” says Kabir Mulchandani, Chairman and Chief Executive, FIVE Holdings.
“After supporting Avant Gardner through a challenging period in 2025, we are pleased to have achieved an agreement in principle with the Committee of Unsecured Creditors resolving all material matters related to the Chapter 11 plan and sale transaction, as reflected in yesterday’s filings in the U.S. Bankruptcy Court. With these matters now resolved, the transition to FIVE and Pacha can move forward in earnest.
We are thrilled to partner with FIVE and Pacha to bring a world-class operator to Brooklyn. We are deeply grateful for the constructive engagement of all constituencies including AG employees, state and local regulators, artists, agents, and unsecured creditors, throughout this process. The partnership with FIVE and Pacha is about restoring the venue as a beloved destination for music fans, and we look forward to
seeing it elevated to even greater heights,” said Andrew Axelrod, CEO and CIO of Axar
Capital.
At its core, Pacha New York is a statement: that nightlife can be culturally meaningful, globally connected, and locally rooted all at once.
A stage for artists.
A home for music lovers.
A new chapter in a over 50-year legacy of dancing together.
The iconic Brooklyn Mirage enters a bold new era as Pacha New York, ushering in a powerful revival of dance culture in a borough synonymous with artistic rebellion, diversity, and musical innovation. More than a venue, Pacha New York is a cultural
platform where global icons, underground pioneers, and New York’s creative communities unite in celebration of music, movement, and human connection.
FIVE Holdings has entered into a long-term agreement assuming full operational management of the Brooklyn Mirage and The Great Hall complex. The partnership brings together the recapitalized Avant Gardner’s deeply rooted local legacy with Pacha’s globally celebrated expertise in building culturally defining destinations and large-scale entertainment experiences.
The result is Pacha New York — the next evolution of a brand shaped by more than 50 years at the forefront of dancefloor culture worldwide. From June through October 2026, Pacha New York ignites its first season with world-class performances that place international headliners and homegrown talent on the same stage - a true reflection of the diverse soundscape shaping modern electronic music. Expect the world’s most sought-after electronic artists, Grammy-winning performers, and large-scale shows rarely seen in New York City, delivered with the production depth and ambition the culture deserves.
Beyond the summer season, the soon-to-be upgraded Great Hall will continue to operate year round as a multi-genre arena for live acts and next-generation sounds, ensuring the energy never fades. Yet for all its global pull, the heartbeat of Pacha New York remains unmistakably Brooklyn - with ongoing partnerships with local artists, collectives, and promoters, keeping the space rooted in and reflective of the community that built this dancefloor’s legacy in the first place.
“New York - the financial and cultural capital of the world - represents more than a market expansion for FIVE and Pacha; it marks a defining moment in our global journey. This move reflects the strength of our vision, the resilience of our platform, and our ambition to help shape the future of entertainment on a global stage. We are entering a city that influences how the world thinks, creates, and connects - and we do so with bold imagination, long-term commitment, and the confidence to build destinations that
resonate far beyond their physical walls. For us, New York is not simply a new chapter - it is a statement of intent about the scale of our aspirations and the cultural impact we are here to create,” says Kabir Mulchandani, Chairman and Chief Executive, FIVE Holdings.
“After supporting Avant Gardner through a challenging period in 2025, we are pleased to have achieved an agreement in principle with the Committee of Unsecured Creditors resolving all material matters related to the Chapter 11 plan and sale transaction, as reflected in yesterday’s filings in the U.S. Bankruptcy Court. With these matters now resolved, the transition to FIVE and Pacha can move forward in earnest.
We are thrilled to partner with FIVE and Pacha to bring a world-class operator to Brooklyn. We are deeply grateful for the constructive engagement of all constituencies including AG employees, state and local regulators, artists, agents, and unsecured creditors, throughout this process. The partnership with FIVE and Pacha is about restoring the venue as a beloved destination for music fans, and we look forward to
seeing it elevated to even greater heights,” said Andrew Axelrod, CEO and CIO of Axar
Capital.
At its core, Pacha New York is a statement: that nightlife can be culturally meaningful, globally connected, and locally rooted all at once.
A stage for artists.
A home for music lovers.
A new chapter in a over 50-year legacy of dancing together.
PACHA NEW YORK