Experience branches out

ADVENTURE tourism company Experience Co has plunged into the acquisition pool again, this time announcing the purchase of treetop zipline company Trees Adventure for $46.9 million (TD breaking news today).

The newly purchased business has 14 locations across the five states of Victoria, NSW, Qld WA and Tasmania, operating under the Trees Adventure, Tree Tops, Next Level and Hollybank Wilderness Adventures brands.

Trees Adventure also has two more adventure parks scheduled to open up in the next year, with part of the funding to make the purchase sourced by Experience Co from an entitlement offer for existing institutional and retail shareholders announced on the ASX this morning.

The purchase follows two acquisitions carried out earlier in the year (TD 20 Apr), which saw Wild Bush Luxury and Tasmania’s The Maria Island Walk added to its tourism portfolio, with Experience Co CEO John O’Sullivan stating the latest purchase is part of a plan to insulate the business from shortterm travel restriction challenges, as well as setting the company up for future growth opportunities.

“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.

O’Sullivan added that given the younger demographic of Trees Adventure, it would serve as a perfect gateway to Experience Co’s adult range of products, describing the zipline business’s younger audience as “the skydivers of tomorrow”.

Experience Co posted a $4.8m loss for the 12 months to 30 Jun.