Intrepid Group has bought 50% of Chimu Adventures and its subsidiaries from co-founders Chad Carey and Greg Carter, pictured, who will continue to run the business independently.
“The addition of Chimu’s $30 million business will add close to 10% of revenue to the Intrepid Group, which is already in excess of $300 million,” Intrepid Group said in a statement.
Chimu’s core business is South American and Antarctic tours and cruises.
It also owns Get About Asia, three South American destination management companies while it has invested in at least two Peru hotels.
Intrepid says a priority of the new joint venture partnership is to launch a range of charter cruises to the Arctic and Antarctica.
“Together, we will be one of the largest sellers of Antarctica travel in Australia and an important player in the Polar market globally,” says Intrepid Group CEO James Thornton.
Chimu, based in Sydney, was started by Carey and Carter in 2004.
Intrepid Group has its headquarters in Melbourne, employs 1600 staff in 27 offices and claims to be the world’s largest provider of adventure travel experiences.