Icelandic Investors Acquire Tour Operator Nicetravel, New CEO Appointed

A consortium of Icelandic investors has finalized the purchase of Nicetravel ehf., a prominent Icelandic company specializing in organized group tours for foreign visitors. This acquisition marks a new chapter for the tour operator, which has grown significantly since its inception.

Engilbert Hafsteinsson is set to lead the company as its new CEO, while Andri Gunnarsson will assume the role of chairman of the board. Both Hafsteinsson and Gunnarsson are among the largest shareholders. The group of investors also includes notable figures such as Gestur Breiðfjörð Gestsson, Davíð Másson, Skúli Mogensen, and the Biering and Brynjólfsson brothers.

Nicetravel was established in 2012, initially operating with a single bus. Since 2016, it has operated in its current form and experienced rapid expansion. The company now manages a fleet of 23 modern 19-seater Mercedes-Benz minibuses, offering a diverse range of day tours and extended round trips across Iceland. Their specialization lies in catering to small groups, emphasizing personalized service, quality, safety, and unique experiences of Iceland's natural landscapes.

Outgoing owners Stefán Þór Gunnarsson and Tryggvi Þór Ágústsson will collaborate with the new ownership over the coming months to ensure a seamless transition of operations. Hafsteinsson expressed enthusiasm for taking over Nicetravel, citing its solid foundation, strong workforce, excellent service, and reputable standing among international tourists. He highlighted numerous opportunities for continued growth, building upon the success achieved by the previous owners.

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I am very excited to take over the operation of Nicetravel and return to the tourism industry. The company is trustworthy, well-run, and built on a very strong foundation that the previous owners have created. It possesses strong human resources, excellent service, and a unique reputation among foreign tourists. We see numerous opportunities for continued growth and intend to build upon the success that has already been achieved.