Lindblad Expeditions recently acquired Wineland-Thomson Adventures, an adventure travel group, in an effort to strengthen its presence in East Africa, particularly in Tanzania. The acquisition includes Thomson Safaris and Gibb’s Farm, both well-known destinations in the region. The purchase price for Wineland-Thomson Adventures is approximately $30 million, with financing through cash and Lindblad stock. Lindblad has also increased its stake in Natural Habitat and DuVine through recent acquisitions.
Both Lindblad and Wineland-Thomson prioritize sustainable tourism practices and education, making the acquisition a good fit for both companies. Lindblad’s CEO, Sven-Olof Lindblad, sees the acquisition as an opportunity to expand their footprint and create more opportunities to inspire and educate travelers. This acquisition is part of Lindblad’s strategy to acquire established adventure travel companies, with the aim of expanding their land offerings in East Africa.
Wineland-Thomson will continue to offer stand-alone experiences while leveraging Lindblad’s resources to accelerate growth and take advantage of demand trends in the market. Lindblad is also on the lookout for more acquisitions in the coming year to further diversify its product portfolio and capitalize on the growing demand for experiential travel. The company’s first-quarter earnings report showed a 7% increase in total revenue and a 4% increase in bookings compared to the same period in 2023.
This latest acquisition is part of Lindblad’s recent acquisition spree, which includes three other tour operators acquired in 2021. The company’s goal is to expand its land offerings in East Africa with the addition of Thomson Safaris and tap into the growth potential of small-group safaris in Tanzania. The company will continue to explore growth opportunities in the future, including potential expansions of its fleet to meet the rising demand for experiential travel. Despite higher operating costs, including investments in staff, departure options, and marketing, Lindblad’s EBITDA for land experiences remained in line with the same period in 2023.
