$46.9m deal locks in new wilderness adventures

ADVENTURE tourism company Experience Co will acquire Tasmania’s Hollybank Wilderness Adventures, along with 13 other zip-line and ropes parks in five states, for $46.9m, it was announced on Thursday.

The acquisition includes Tree Tops, Tree Adventure and Next Level parks across Australia.

Experience CEO John O’Sullivan said the acquisitions would form the cornerstone of a new family adventure division.

“This acquisition forms part of our ongoing strategic growth plan and builds on our strong business base, providing us with new access to an intrastate leisure and recreation market less impacted by state and international border closures,” he said in a statement.

“This gives us near-term tailwinds as well as positioning our portfolio strongly for long-term growth.”

The transaction will be completed by the end of this month, with the Trees Adventure co-founders, Nicolas Dansin and Marc Flaster, as well as the current management team to remain with the company under the new ownership.

The acquisition includes five TreeTops Adventure parks in New South Wales, two Trees Adventures Parks in Victoria and a Next Level high ropes park in Queensland. Two additional adventure parks are expected to be open in the next 12 months.

The ASX-listed company has turned a focus to the domestic leisure market for when residents in Sydney and Melbourne emerge from lockdown.

Earlier this year Experience Co acquired the Wild Bush Luxury, which operates the Maria Island Walk in Tasmania, as well as a range of walking, accommodation and wilderness camp experiences in the Northern Territory and South Australia.

The company also operates 17 skydive drop sites in Australia.

“Trees Adventures’ younger audience are the skydivers of tomorrow,” Mr O’Sullivan said.

“We want to capture their interest in adventure experiences from an early age and introduce them to the other opportunities that Experience Co can offer.”