Latin America's Despegar Is on a Buying Spree Despite Pandemic Challenges
Skift Take
Despegar is playing the hand it's been dealt during the depths of the coronavirus crisis, and that means it will cut costs, ensure liquidity, and be on the prowl for opportunistic acquisitions to take market share.
With no recovery in sight in much of Latin America, Despegar attracted $200 million in private equity financing, negotiated a discount on the acquisition of Mexican travel agency Best Day, and bought a Brazilian payments platform Koin.
Waha Capital's $50 million private placement is expected to close this month, while L Catterton Latin America's $150 million capital infusion would close in September, Despegar announced Friday in tandem with releasing its second quarter financial results. The proceeds from these deals could be used for general corporate purposes, including enabling Despegar to continue its a
