Lindblad Expeditions Holdings, Inc. Acquires The greater part Stakes in DuVine Biking + Journey Co. and Off the Overwhelmed Route LLC
NEW YORK, March 9, 2021 /PRNewswire/ — Lindblad Expeditions Holdings, Inc. (NASDAQ: LIND the “Organization” or “Lindblad”), a world wide provider of expedition cruises and adventure travel experiences nowadays introduced that it has acquired the vast majority stakes in DuVine Biking + Journey Co. (“DuVine”), a main luxury cycling and adventure journey company, and Off the Overwhelmed Route LLC (“Off the Overwhelmed Path”), a foremost energetic travel operator with a specialization in U.S. Countrywide Parks. These acquisitions additional broaden and deepen Lindblad’s platform of large-quality experiential merchandise offerings in strong experience vacation sectors, like the quickly increasing biking tourism and domestic expedition markets. Similar to the acquisition of Normal Habitat, Inc. (“All-natural Habitat”), the Organization will leverage its experience and means to accelerate the growth of these distinctive and successful enterprises and capitalize on the escalating demand from customers for reliable and immersive journey vacation.
DuVine is an award-profitable intercontinental luxury biking and experience company centered in Somerville, Massachusetts targeted on giving immersive cultural encounters throughout the world by thoughtfully intended itineraries led by pro neighborhood guides. DuVine’s trips incorporate best-high quality gear and guidance and are customized to riders of all talents with an emphasis on extraordinary food and wine ordeals, alongside with boutique lodging. DuVine also now operates a range of extraordinary journeys that blend sailing and biking activities, which will be even further expanded as element of Lindblad. Established in 1996 by Andy Levine, DuVine’s diverse tour choices contain tiny team and non-public custom made journeys to places across Europe, the United States, Latin The united states, Asia and Africa. Mr. Levine will retain an ownership interest in DuVine and will proceed as President and Main Govt Officer of the new Lindblad subsidiary.
Off the Overwhelmed Path, centered in Bozeman, Montana, presents lively tiny-group and personal custom journeys all around the globe, with a prolonged-standing target on U.S. National Parks and connecting the heart of the traveler with the soul of the spot by localized, genuine experiences. Started in 1986, Off the Crushed Path’s compact group product offerings involve one of a kind expeditions throughout the U.S., as effectively as excursions across Europe, Africa, Australia, Central and South The united states and the South Pacific. Cory Lawrence, Off the Crushed Path’s President and Chief Government Officer, will retain an ownership desire in Off the Overwhelmed Path and continue in this purpose for the new Lindblad subsidiary.
DuVine and Off the Crushed Path will advantage from Lindblad’s scale, assets and advertising and marketing knowledge even though substantially rising the addressable prospect throughout Lindblad’s portfolio. The major demand from customers for cycling-associated information and use was growing promptly prior to COVID-19 and that has only accelerated in the course of the pandemic. In accordance to the NPD Group, from January by means of Oct of 2020 US. bicycle profits greater about 60% and e-bike product sales amplified 144% as opposed with the exact interval in 2019. DuVine’s confirmed monitor document in delivering large-conclude smaller group cycling activities, together with the meaningfully increased accessibility that the evolution of the e-bicycle delivers, ideally situates them to more capitalize on this growing opportunity equally immediately coming out of the pandemic and in excess of the extended-time period. Similarly, Off the Beaten Path has one of a kind accessibility to minimal lodging inventory throughout its geographies, particularly in U.S. National Parks enabling unmatched exploration in places that appeal to hundreds of thousands of people just about every 12 months. These outstanding spots will only expand in recognition put up pandemic offered their proximity and, with a extensive-standing popularity of providing reliable smaller group and private custom made journey activities, Off the Overwhelmed Route is very well positioned for sustained development. Both DuVine and Off the Overwhelmed Route have been running journeys in the course of COVID and are at the moment dealing with strong amounts of bookings for long run journey.
Sven-Olof Lindblad, President and Main Executive Officer, said, “Bringing DuVine and Off the Crushed Path into our portfolio of manufacturers will permit us to greater serve a broader based mostly clientele that has a varied set of vacation interests. The large degree of quality and integrity of both these providers can make them perfect associates in our technique of expanding our platform of experiential offerings. Our proven skill to leverage our platform and proficiently cross market creates the option to accelerate expansion across our entire portfolio, and we will carry on to seem for further options to broaden and deepen our experience journey offerings, equally organically and as a result of acquisitions, to aggregate greater audiences and make greater life span price from our faithful attendees.”
Andy Levine, DuVine’s Founder and President, mentioned, “I have prolonged admired Lindblad for their fantastic expeditions and motivation to accountable journey, a main price that has also guided DuVine’s philosophy. Our businesses share not only a motivation to sustain the world’s most compelling cultures and communities, but also the perception that authentic, deeply-rooted encounters make journey a lot more fulfilling. DuVine’s journeys provide a new viewpoint grounded in energetic journey, local flavor, and an appreciation of nature from the seat of a bicycle. I cannot hold out to introduce the transformative electricity of bike travel to a larger viewers of journey seekers.”
Cory Lawrence, Off the Beaten Path’s President, stated, “We couldn’t be more thrilled to be part of Lindblad Expeditions and Pure Habitat Adventures to further more our mission to change peoples’ lives through outstanding vacation activities. With our one of a kind type of journey, robust domestic existence, and tiny team and bespoke journey style and design choices, we are very well-positioned to have rapid impact on the newly expanded family of businesses. Increasing awareness of Off the Beaten Path and its exceptional offerings by leveraging the reach and know-how of equally Lindblad and Purely natural Habitat is a big prospect for our organization in its 35th yr of procedure. We are thrilled!”
Mark Ein, Lindblad’s Chairman, extra, “From when we 1st invested in Lindblad in 2015, we have usually seen Lindblad as an option to establish an amazing platform company that would broaden, organically and as a result of acquisition, to offer an unparalleled established of indelible experiences for its company. We are happy of what we have by now carried out to date, with remarkable new ship builds and the Purely natural Habitat acquisition, and, around the last calendar year, we concentrated on securing the money that would empower us to speed up our progress coming out of COVID. We have now identified two best companies in DuVine, poised to capitalize on the explosive growth in biking, and Off the Overwhelmed Path, with its special accessibility to U.S. Nationwide Parks, to convey into our Lindblad loved ones. These are crucial actions in our continuing quest to solidify Lindblad as a person of the finest journey corporations in the earth.”
About Lindblad Expeditions Holdings, Inc.
Lindblad Expeditions Holdings, Inc. is an expedition travel corporation that focuses on ship-primarily based voyages by way of its Lindblad Expeditions brand name and on land-centered travel via its subsidiaries, All-natural Habitat Adventures, Off the Beaten Route and DuVine Biking and Journey.
Lindblad Expeditions is effective in partnership with Nationwide Geographic to encourage folks to investigate and treatment about the world. The companies work in tandem to develop progressive marine expedition plans and to market conservation and sustainable tourism close to the planet. The partnership’s educationally oriented voyages allow visitors to interact with and study from primary scientists, naturalists and scientists although finding stunning pure environments, above and underneath the sea, as a result of state-of-the-art exploration resources.
Organic Habitat associates with the Planet Wildlife Fund to supply and advertise conservation and sustainable journey that instantly protects mother nature. Purely natural Habitat’s adventures involve polar bear excursions in Churchill, Canada, Alaskan grizzly bear adventures and African safaris.
DuVine Biking + Adventure Co. types and leads luxury bicycle excursions in the world’s most awesome destinations, from Italy’s solar-bleached villages and the medieval cities of Provence to Portugal’s Douro Valley and the vineyards of Napa, California. Attendees bike, eat, consume, and sleep their way by these regions and quite a few more though sampling the greatest delicacies, resorts, and wine.
Off the Crushed Path is an outdoor, active vacation corporation supplying guided smaller group adventures and non-public custom made journeys that join vacationers with the wild mother nature and reliable lifestyle of their destinations. Off the Overwhelmed Path’s journeys prolong throughout the world, with a concentrate on outstanding nationwide park encounters in the Rocky Mountains, Desert Southwest, and Alaska.
Source Lindblad Expeditions Holdings, Inc.
