Small group UK cultural adventures operator Rabbie’s has attracted a £7 million investment.
Hugo Kimber is joining the Scottish company as chairman, a role he previously held at adventure tours brand Explore.
The minority financial input by consumer brands specialist investor Piper will see founder Robin Worsnop continue to stay on the board as a majority shareholder, alongside the core management team of managing director Hazel Rickett, sales and marketing director Heather Reekie and operations director Alec Lee.
The investment will help the business maintain its position as the leader in off-the-beaten-track tours that support local communities in the UK and Europe, while driving brand awareness among inbound tourists and domestic travellers.
It is Piper’s second investment in the travel sector following £7 million pumped into Mediterranean villa brand, The Thinking Traveller, in November 2020.
Rabbie’s began in 1993 with Worship taking small groups of travellers around Scotland in a 16-seater mini-coach.
The company now has almost 100 vehicles operating small group tours across the UK, alongside exclusive partnerships in Ireland and Europe.
Sales grew to £17 million in pre-pandemic 2019, with 80% of revenue currently from trips in Scotland.
Rabbie’s has expanded into Europe with trips in Spain, Portugal, Italy and Switzerland.
Sales are rebounding quickly post-Covid and bookings in April 2022 were 25% above April 2019.
The brand is popular with travellers across all age groups, with 50% of travellers under 35. Three quarters of customers come from abroad, with a fast growing 25% from the UK – part of a wider trend of people seeking to discover Britain through domestic holidays.
Worsnop said: ‘We are thrilled to find a partner that shares our values and ambitions for Rabbie’s as we emerge from the Covid pandemic.
“Piper’s passion for brand, purpose and culture is a perfect match for the Rabbie’s team, and we look forward to making the world a better place through travel together.’
Piper partner Dan Stern, who led the deal, said: ‘We are very excited to be backing the Rabbie’s team for the next stage of growth.
“Although the travel industry has been badly hit by Covid, our consumer insight work shows that people are more eager than ever to see new countries and experience new cultures. As a brand unrivalled in its satisfaction levels among customers, Rabbie’s is exceptionally placed to benefit from this pent-up demand as we emerge from the pandemic.’
Kimber added: ‘Robin, Hazel, Heather, Alec and the team have built a great business with an incredibly strong brand and culture.
“I’m really excited about the opportunity to work with Piper who have a proven pedigree in growing brands while keeping the founding values of businesses at their heart.’