Intrepid takes 50% stake in Latin American specialist Chimu Adventures

Intrepid Group has bought a 50% stake in Latin America and Polar specialist Chimu Adventures.

Intrepid said the investment would make the companies the largest providers of travel to Antarctica from Australia, and a “significant” Polar seller globally.

It said it had made the investment to meet a growing demand for sustainable travel experiences from increasingly adventurous travellers.

Group chief executive James Thornton said a priority for the new joint venture is to launch a range of charter cruises to the Arctic and Antarctica.

It is the group’s first investment since the company returned to independent ownership two years ago after splitting from Tui.

The deal also includes a 50% stake in Get About Asia, three sales offices in the United Kingdom, Sydney and the Sunshine Coast and Chimu’s three South American destination management companies.

Intrepid said the investment would add around 10% revenue to the Intrepid Group, which turns over around of $300million annually.

Chimu Adventures will remain independent of Intrepid, with co-founders Greg Carter and Chad Carey continuing to have autonomy.

Australian-owned Chimu Adventures has offices in the UK headed up by Simon Evans.

Chimu’s UK business turns over around £2 million a year.

Thornton said: “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.”

Carter said: “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.

“We share many common ideas on sustainable travel and we believe it’s a perfect fit for both businesses.”