Intrepid takes stake in Chimu Adventures
Intrepid Group has announced a strategic investment in Australia based operator Chimu Adventures.
Chimu specialises in Latin America and polar expeditions.
The value of the 50% stake has not been disclosed but covers the Chimu Adventures and Get About Asia brands.
The company has offices in Sydney, the Sunshine Coast and the UK.
It also includes a stake in Chimu’s three South American destination management companies.
Intrepid Group says the investment will boost its total revenue by about 10%.
"I am thrilled to be partnering with the fantastic team at Intrepid Group, in order to grow the business that we started 13 years ago in a London apartment with a second hand laptop to a global level. We share many common ideas on sustainable travel and we believe it’s a perfect fit for both businesses," said Greg Carter, Chimu Adventures co-founder.
Carter and fellow co-founder Chad Carey will continue to run the business which will remain an independent brand.
"This year we launched our first Adventure Cruise range and had a phenomenal response. We know there is a huge appetite for a more sustainable and experiential style of cruise so it is our intention to expand in to polar charters as part of this cooperation," said James Thornton, Intrepid Group CEO.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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