French cruise company Ponant Explorations Group has taken a majority stake in small-ship expedition firm Aqua Expeditions.
Launched in Peru 18 years ago by Francesco Galli Zugaro, Aqua Expeditions now has three river vessels and two ocean cruise ships.
Ponant, which has 14 vessels, said the deal will “empower Aqua Expeditions to continue expanding its footprint globally and enabling the company’s growth as a destination specialist”.
Aqua Expeditions operates small ships in “biodiversity hotspots” such as the Galápagos, Raja Ampat, Komodo, Spice Islands, the Mekong River and the Peruvian Amazon River.
Galli Zugaro will remain as a shareholder and, along with his senior management team, will continue to lead the company as a stand-alone business unit, continuing to operate under the brand name Aqua Expeditions.
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Ponant said the transaction comes at a “pivotal time” as Aqua Expeditions launches its East Africa itineraries, exploring the Seychelles and Tanzania.
Hervé Gastinel, chief executive of Ponant Explorations Group, said: “This partnership aligns perfectly with our vision of excellence and sustainability in the luxury sector.
“It reflects our commitment to offering unparalleled travel experiences in iconic destinations such as the Galápagos and now also river journeys, while preserving the natural beauty of the places we explore.
“We are deeply impressed with the exceptional company that Francesco has built over the past 18 years and the unique brand he has developed in the experiential travel space.”
Galli Zugaro, chief executive of Aqua Expeditions, added: “Partnering with another family-owned business ensures we maintain a heritage of luxury in our brand.
“With the financial support and expertise from our partners, we are well-positioned to continue our growth and offer our guests unforgettable journeys to the world’s most biodiverse and culturally rich regions while maintaining our core brand values.”
Ponant and its acquisition are backed by Artémis Group, the Pinault family’s investment company, which owns fashion houses including Gucci, Saint Laurent, Bottega Veneta, Balenciaga and auction house Christie’s; Pinault Collection, the world’s largest private collection of contemporary art; Artémis Domaines, a collection of wine estates; and Creative Artists Agency (CAA), an entertainment and sports agency.