Intrepid Travel has completed its largest acquisition to date, acquiring France's Altai Group, an adventure travel company.
The acquisition positions France as Intrepid's fourth-largest customer market and marks the operator's second major investment in Europe after acquiring Dutch tour operator Sawadee Reizen last year.
The acquisition will add AUD$100 million in revenue and funnel an additional 35,000 customers a year to Intrepid.
The Altai Group is headquartered in Lyon and offers nature-based tours. It consists of multiple brands, including Atalante, Altai Travel, Copines de Voyage and Les Aventureurs.
Altai operates most of its trips through its own network of destination management companies (DMCs). The acquisition strengthens Intrepid's DMC capabilities in Chile and Canada, including the addition of an operational base in Montreal.
The purchase also expands Intrepid's access to wilderness and adventure experiences in Northern Canada.