Tour operator Intrepid Group has acquired a 50% stake in
Chimu Adventures, a specialist in Latin America land itineraries and Antarctica
small-ship cruises. Both Intrepid and Chimu are Australian-owned companies.
"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
into polar charters as part of this cooperation," said Intrepid CEO James
The Chimu investment is Intrepid's first since the company
split from TUI Travel two years ago.
The deal includes investments in three Chimu sales offices
in the U.K., Sydney and Sunshine Coast in the Australian state of Queensland,
plus three South American destination management companies in Peru, Argentina
The addition of Chimu's $30 million business will add close
to 10% of revenue to the Intrepid Group, a $300 million company.
Chimu co-founders Greg Carter and Chad Carey will continue
to run the company.