Sustainability-focused travel experiences company Intrepid Travel has
acquired a majority stake in Australian adventure tourism business and
destination management company JOOB (Jump Out Of Bed).
The financial terms of the transaction were not disclosed.
Australia-based Intrepid Travel says the acquisition will bolster the
growth of its destination management company (DMC) in Australia, which
was created in 2021. Intrepid also says its purchase of JOOB increases
its Australia offerings by 45%.
According to Intrepid Travel’s CEO James Thornton: “We’ve built
exceptional global operational capability over the years, and Intrepid’s
vertical integration has been a core part of our strategy. However, the
missing piece has been our own DMC in Australia. JOOB completes the
Founded in 1989, Intrepid Travel is a global adventure tour operator
with a network of DMCs and a not-for-profit foundation. Intrepid offers
more than 1,150 trips on all seven continents. The company is
majority-owned by its co-founders and staff.
Founded in 2019, JOOB is comprised of three brands – walking company
Inspiration Outdoors, adventure tour specialist Waratah Adventure Tours
and kayaking business Sea Kayak Rottnest Island. Together they offer
guided tours in Australia’s nature-based tourism destinations.
Under the deal, JOOB CEO Simon Mendelawitz will join Intrepid as general manager of its Australian DMC.
Says Thornton: “I’m delighted to welcome Simon and the JOOB team to
Intrepid. Together, we will develop even more exceptional trips for our
own customers, as well as other leading travel brands, taking more
travelers to the most remarkable and rugged parts of Australia.”
Mendelawitz adds: “At JOOB, we believe adventure, giving back to
communities and having some fun along the way are all important, and
that’s why we’re such a perfect fit for Intrepid. We bring decades of
operational experience and know-how in Australia – a vast and
operationally complex country. I’m incredibly excited to join the team
and to continue to build exceptional adventures together.”
Intrepid’s acquisitions in the past 12 months include a majority
stake in Haka Tours and ANZ Nature Tours in New Zealand and Wildland
Trekking in the United States.
In May, Intrepid Travel invested a US$7.85 million equity stake in Australian off-grid accommodations provider CABN.
In 2021, Intrepid announced a strategic partnership with France-based
investment company Genairgy to help Intrepid become the first $1
billion adventure travel company by 2025.