Intrepid Travel has bought Dutch operator Sawadee Reizen from Travelopia in a “landmark” deal with a move into a new market.
The acquisition of the Amsterdam-based firm will add €60 million in revenue and an additional 20,000 customers a year to Intrepid, boosting earnings [ebitda] by an extra €3 million.
It immediately makes the Netherlands Intrepid’s fourth largest source market after Australia, the US and the UK.
Sawadee is one of the largest experiential operators in the Netherlands, running more than 250 trips across 100 countries with a global team of 180 people.
Under the deal, Sawadee will continue to be led by managing director Berend Simons, who will report to Intrepid’s EMEA boss Zina Bencheikh.
Sawadee will remain based in Amsterdam and continue to operate with its existing name and brand.
Intrepid largest acquisition supports its 2030 strategy, which aims to grow to more than A$1million in the next five years.
Intrepid and Sawadee have enjoyed a successful working partnership since 2011. Intrepid DMC operates a number of Sawadee’s trips to deliver high-quality, locally focused, immersive travel experiences, with a commitment to responsible travel.
Chief executive James Thornton said: “We’re delighted to welcome the Sawadee team to Intrepid after more than a decade working successfully together.
“Intrepid aims to be the world’s largest vertically integrated experiential travel company and bringing our two brands together is a major step towards that. We also both believe that travel can be a force for good in the world.”
Travelopia chief executive Andy Duncan added: “Sawadee is passionate about delivering exceptional experiences for its customers, expanding horizons and connecting communities. We wish the team success and continued growth under Intrepid ownership.”
Thornton signalled that Sawadee will work towards becoming B Corp certified, building further on its sustainability credentials, which includes it having the highest level of Travelife certification since 2014.
Simons said: “Intrepid is a leading global travel business, with exceptionally strong values.
“We’re excited about the next part of the Sawadee journey and growing together. Our leading position in the Dutch market, coupled with Intrepid’s global expertise, means we will continue to deliver amazing trips for our customers and create impact for the communities we visit.”