Competition approval clears Blue Lagoon’s Arctic Adventures purchase

The Competition Authority has approved Blue Lagoon’s purchase of tourism company Arctic Adventures, clearing the way for the deal to be completed in the coming weeks, mbl.is reported. Arctic Adventures is expected to join the Blue Lagoon group at the end of November.

The approval lifted the final outstanding condition in the purchase agreement. The companies announced the deal in June 2026, subject to due diligence by both companies, approval by their shareholders’ meetings and clearance from the Competition Authority. The first two conditions had already been met.

Arctic Adventures is one of Iceland’s largest tourism companies and specialises in adventure and leisure tourism. It operates destinations including Fjaðrárgljúfur, Kerið and Raufarhólshellir.

The companies had combined revenue of about 34.3 billion krónur in 2025 and a total of about 1,120 full-time-equivalent positions. Blue Lagoon had 780 positions and Arctic Adventures 340.

“There are exciting times ahead,” Arctic Adventures chief executive Ásgeir Baldur said in a statement. He said the company would bring a strong nationwide operation, specialist knowledge, sales and operational expertise, and staff to the Blue Lagoon group. He added that combining the companies’ strengths could create opportunities to develop services and experiences, reach more visitors and strengthen Iceland’s position as a destination.