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 established in 2021. Intrepid also says its purchase of JOOB increases its offerings in Australia by 45 %.
According to Intrepid Travel CEO James Thornton, “We have developed an exceptional global operational capability over the years, and vertical integration of Intrepid has been central to our strategy. However, the missing piece was our own DMC in Australia. JOOB completes the puzzle.
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Founded in 1989, Intrepid Travel is a global adventure tour operator with a network of destination management companies and a non-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 made up of three brands: walking company Inspiration Outdoors, adventure travel specialist Waratah Adventure Tours and kayaking company Sea Kayak Rottnest Island. Together they offer guided tours to nature-based tourist destinations in Australia.
As part of the deal, JOOB CEO Simon Mendelawitz will join Intrepid as Managing Director of its Australian DMC.
Thornton said: “I am 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 Australia’s most remarkable and rugged regions.
Mendelawitz adds, “At JOOB, we believe that adventure, giving back to communities, and having fun along the way are all important, and that’s why we’re so perfectly suited to Intrepid. We bring decades of operational experience and know-how to Australia – a vast and operationally complex country. I’m incredibly excited to join the team and continue to build great adventures together.
Intrepid’s acquisitions over 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 $7.85 million stake in Australian off-grid accommodation provider CABN.
In 2021, Intrepid announced a strategic partnership with French investment firm Genairgy to help Intrepid become the first $1 billion adventure travel company by 2025.