Melbourne-based Intrepid Group has entered into a strategic partnership with Chimu Adventures in a deal that includes a 50% stake in Chimu Adventures, Get About Asia, and three sales offices in the United Kingdom, Sydney and the Sunshine Coast.
In addition, the agreement will also include 50% investment in Chimu’s three South American destination management companies, which will enable both companies to expand their global network of local destination management companies.
Chimu’s $30 million business will add close to 10% of revenue to the Intrepid Group, which is already in excess of $300 million.
Chimu Adventures will remain independent of the Intrepid Group under the new agreement, with co-founders Greg Carter and Chad Carey continuing to have complete autonomy to run the company.
Together, the independently-owned Australian travel companies will become one of the largest sellers of travel to Antarctica from Australia, and a significant Polar seller globally – with an agreement already in development for the new joint venture partnership to launch a range of charter cruises to the Arctic and Antarctica.