Spain: Damm acquires 100% of the World Padel Tour after purchasing Rucio Investments' shares

Damm, a Catalan brewing company that has, since 2014, been a majority shareholder in Setpoint Events, the organising company of the World Padel Tour (WPT), is buying back the minority stake in Setpoint Events (20%) that Rucio Investments acquired in May 2021, announced the international padel circuit on 21/07/2022.

"Damm now controls 100% of the ownership and underlines the strong commitment it made in 2014 to the development and growth of padel, and the creation and consolidation of a professional circuit of global standing," said the World Padel Tour.

"The transaction comes after 14 months of collaboration with Rucio Investments in which the main objective of internationalising World Padel Tour has been achieved, while at the same time reinforcing the efforts to support the players in order to promote the Circuit among fans and to promote its brand value," added the WPT.

• Former Spanish tennis player Alex Corretja has joined the World Padel Tour management team as advisor to president Ramón Agenjo (in office since 2017) on 21/07/2022.