Acquisitions | Tourism Ticker https://www.tourismticker.com/tag/acquisitions/ The Business of Tourism Thu, 23 Mar 2023 00:46:20 +0000 en-NZ hourly 1 212885728 Millennium & Copthorne NZ invests $96m to enter Aus with Brisbane deal https://www.tourismticker.com/2023/03/22/millennium-copthorne-nz-invests-96m-to-enter-aus-with-brisbane-deal/ https://www.tourismticker.com/2023/03/22/millennium-copthorne-nz-invests-96m-to-enter-aus-with-brisbane-deal/#respond Tue, 21 Mar 2023 18:55:00 +0000 https://www.tourismticker.com/?p=112328 The NZ hotel operator is in a joint venture to acquire a 5-star Sofitel for around $190m.

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THL, Apollo push out deal deadline to tackle competition concerns https://www.tourismticker.com/2022/07/29/thl-apollo-push-out-deal-deadline-to-tackle-competition-concerns/ https://www.tourismticker.com/2022/07/29/thl-apollo-push-out-deal-deadline-to-tackle-competition-concerns/#respond Thu, 28 Jul 2022 18:55:00 +0000 https://www.tourismticker.com/?p=99492 Tourism Holdings Limited and Apollo Tourism & Leisure have agreed to extend the final date for a proposed merger deal to 15 October.

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ComCom approves Kinetic acquisition of NZ Bus https://www.tourismticker.com/2022/07/11/comcom-approves-kinetic-acquisition-of-nz-bus/ https://www.tourismticker.com/2022/07/11/comcom-approves-kinetic-acquisition-of-nz-bus/#respond Sun, 10 Jul 2022 18:15:00 +0000 https://www.tourismticker.com/?p=98315 The Commerce Commission has given the green light for Kinetic NZ Holdings to acquire NZ Bus.

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Kinetic takeover of NZ Bus prompts BCA concerns https://www.tourismticker.com/2022/04/21/kinetic-takeover-of-nz-bus-prompts-bca-concerns/ https://www.tourismticker.com/2022/04/21/kinetic-takeover-of-nz-bus-prompts-bca-concerns/#respond Wed, 20 Apr 2022 18:40:55 +0000 https://www.tourismticker.com/?p=93809 Bus and Coach Association acting chief executive Max Dickens said the merger could reduce competition in the bus industry if it proceeded.

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Scenic diversifies with Mitchell Corp acquisition https://www.tourismticker.com/2022/04/01/scenic-diversifies-with-mitchell-corp-acquisition/ https://www.tourismticker.com/2022/04/01/scenic-diversifies-with-mitchell-corp-acquisition/#respond Thu, 31 Mar 2022 18:55:00 +0000 https://www.tourismticker.com/?p=92561 The accommodation services provider has a 400-plus network of independently owned and operated properties.

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THL in for $6m boost after ComCom clears Mighway, SHAREaCAMPER sale https://www.tourismticker.com/2022/03/25/thl-in-for-6m-boost-after-comcom-clears-mighway-shareacamper-sale/ https://www.tourismticker.com/2022/03/25/thl-in-for-6m-boost-after-comcom-clears-mighway-shareacamper-sale/#respond Thu, 24 Mar 2022 18:42:00 +0000 https://www.tourismticker.com/?p=92132 The Commerce Commission has cleared Australia's Camplify to acquire Tourism Holdings Limited’s peer-to-peer motorhome and campervan rental platforms, Mighway and SHAREaCAMPER.

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FWA sold sight unseen – the rugby champ ready to tackle NZ tourism https://www.tourismticker.com/2022/01/21/fwa-sold-the-ex-pro-rugby-player-entering-nz-tourism/ https://www.tourismticker.com/2022/01/21/fwa-sold-the-ex-pro-rugby-player-entering-nz-tourism/#respond Thu, 20 Jan 2022 19:00:00 +0000 https://www.tourismticker.com/?p=87262 A former professional rugby player is acquiring Forgotten World Adventures, agreeing to buy it before even visiting.

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A high-flying television executive and former professional rugby player is acquiring Forgotten World Adventures, agreeing to buy the operator before even visiting it.

The sale of Forgotten World Adventures will complete in February. Image: FWA

Paris-based Kiwi Grant Ross will take over the Taumarunui business after relocating his family this month to New Zealand from France.

FWA came to market last April but founders Ian and Rachel Balme withdrew it in July after finding it difficult to secure a good buyer. But the sale for an undisclosed sum has now gone unconditional.

Ross, now a television industry consultant after working in European media, most prominently as global head of format acquisitions for Dutch giant Endemol, originally hails from Wellington but has lived in Europe for 31 years.

The nearly two-metre tall lock left New Zealand in 1989 to play rugby in South Africa and then France, winning the prestigious European Cup with French club Brive and the national championship with Stade Français.

Grant Ross

A career in European television followed, but Ross and his partner Laura decided last year to relocate to New Zealand to give their children a Kiwi upbringing. Two teenage daughters from an earlier relationship would remain in Paris, keeping Ross’ connection to France strong.

“When we decided to move back to New Zealand, I was really looking for a third challenge in my life after two previous challenges [rugby and television],” Ross told the Ticker from Paris.

“I wanted to buy a company in New Zealand. I didn’t know what but I knew I needed to avoid two sectors – hospitality and tourism.”

But after considering 125 companies in New Zealand to acquire, FWA stood out.

“When I started poking around, I realised it was the only company that I had looked at in six months that had got me excited,” Ross said.

“I even tried to push it away but Forgotten World has been doing extremely well, it was doing so before the borders closed and even better since.

“Still, I tried to move on but realised I was going to bed at night thinking about Forgotten World. What do I like about it? It was the only business that I looked at that I could feel there was a strong culture within the company.”

Ross said the Balmes had not only built a good business but had also instilled great values focused on the team environment – an enduring legacy for the company as the founders looked to retire.

“I’ve always worked in team environments, I’ve never achieved anything by myself. I could feel a culture within Forgotten World that I just did not feel anywhere else.”

Grant Ross

He turned to family and friends in New Zealand for further advice and hands-on experience of the attraction, as well as consumer reviews, and they were all overwhelmingly positive.

“After that, there was no way I could look at another company.”

Ross and his family of four, which includes a toddler and a seven-week-old baby, are scheduled to enter New Zealand’s managed isolation tomorrow. The family planned to settle in the Cambridge area, close to Ross’ family, and he hoped to visit FWA before the purchase settlement date of 28 February.

“I may have bought it without visiting it but not really blindly because I believe I know what I’m getting,” he said.

“I’m getting an operation that has been run incredibly smoothly because there’s a fantastic general manager in place, Kara Matheson, and a team that loves their company, loves their region, and loves what they do.”

While he was new to tourism, he believed his experience in television would help, although he had no plans to alter the “well-oiled machine” at FWA.

“Television is about producing experiences that make people happy. If you can produce a unique experience that exceeds the expectations of your customer, well then you build a [business] and a pretty big marketing team.”

Despite many in New Zealand tourism struggling without international tourists, Ross was optimistic for the future of the sector.

“We all know this pandemic is not forever, and there is light at the end of this tunnel,” he said.

“Everybody has their point of view about what will happen when borders slightly open or fully open, but I have no idea.

“All I know is that New Zealanders love supporting New Zealand-owned and run businesses, and when those borders do open, New Zealand will be a fantastic country to come and enjoy.”

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RealNZ exits Black Cat Cruises, sells stake to Ritchies https://www.tourismticker.com/2021/12/13/realnz-exits-black-cat-cruises-sells-stake-to-ritchies/ https://www.tourismticker.com/2021/12/13/realnz-exits-black-cat-cruises-sells-stake-to-ritchies/#respond Sun, 12 Dec 2021 19:00:15 +0000 https://www.tourismticker.com/?p=86724 Queenstown's RealNZ sells out of the business it has been 50% owner since 2007.

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NZ Super Fund jv buys QT Auckland from venture partners https://www.tourismticker.com/2021/12/13/nz-super-fund-jv-buys-qt-auckland-from-partners/ https://www.tourismticker.com/2021/12/13/nz-super-fund-jv-buys-qt-auckland-from-partners/#respond Sun, 12 Dec 2021 18:50:46 +0000 https://www.tourismticker.com/?p=86742 Russell Group and Lockwood Property have sold the hotel into their jv with NZ Super Fund.

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Haka Tours’ Ryan Sanders on selling to Intrepid https://www.tourismticker.com/2021/10/18/haka-tours-ryan-sanders-on-selling-to-intrepid/ https://www.tourismticker.com/2021/10/18/haka-tours-ryan-sanders-on-selling-to-intrepid/#respond Sun, 17 Oct 2021 19:00:09 +0000 https://www.tourismticker.com/?p=83690 Intrepid acquires Haka Tourism's tour assets in a sign of confidence in travel to NZ.

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Quinn close to clinching another motorsport attraction for $9.8m https://www.tourismticker.com/2021/10/11/quinn-close-to-clinching-motorsport-attraction-for-10m/ https://www.tourismticker.com/2021/10/11/quinn-close-to-clinching-motorsport-attraction-for-10m/#respond Sun, 10 Oct 2021 18:40:50 +0000 https://www.tourismticker.com/?p=83391 The Highlands and Hampton Downs owner appears to have sealed the deal for Bruce McLaren Motorsport Park Taupo by adding another $1.7m to his bid.

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KKR buys coach and bus operator Ritchies https://www.tourismticker.com/2021/08/30/kkr-buys-coach-and-bus-operator-ritchies/ https://www.tourismticker.com/2021/08/30/kkr-buys-coach-and-bus-operator-ritchies/#respond Sun, 29 Aug 2021 19:45:39 +0000 https://www.tourismticker.com/?p=80999 The US investor swoops on the Kiwi business, which runs tour group and charter services as well as commuter and school routes.

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Active Adventures enters US with Montana acquisition https://www.tourismticker.com/2021/08/25/active-adventures-expands-into-us-with-montana-acquisition/ https://www.tourismticker.com/2021/08/25/active-adventures-expands-into-us-with-montana-acquisition/#respond Tue, 24 Aug 2021 20:00:08 +0000 https://www.tourismticker.com/?p=80812 The deal gives Active access to a booming US domestic market as well as expanding its offering to 100+ different trips.

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Go Bus acquires McDermott in southern expansion https://www.tourismticker.com/2021/08/02/go-bus-acquires-mcdermott-in-southern-expansion/ https://www.tourismticker.com/2021/08/02/go-bus-acquires-mcdermott-in-southern-expansion/#respond Sun, 01 Aug 2021 18:50:40 +0000 https://www.tourismticker.com/?p=79347 Go Bus has acquired Invercargill-based McDermott Coachlines.

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Why we sold Fullers GreatSights – John Thorburn https://www.tourismticker.com/2021/07/01/why-we-sold-fullers-greatsights-john-thorburn/ https://www.tourismticker.com/2021/07/01/why-we-sold-fullers-greatsights-john-thorburn/#respond Wed, 30 Jun 2021 20:00:34 +0000 https://www.tourismticker.com/?p=77298 The decision to sell the Bay of Islands operator was a difficult one to make, says Entrada's CEO.

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Explore buys Fullers GreatSights in Bay of Islands https://www.tourismticker.com/2021/06/30/explore-buys-fullers-operations-in-bay-of-islands/ https://www.tourismticker.com/2021/06/30/explore-buys-fullers-operations-in-bay-of-islands/#respond Tue, 29 Jun 2021 20:00:14 +0000 https://www.tourismticker.com/?p=77235 The collapse in international tourism was the catalyst for talks, says Explore GM William Goodfellow.

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Aus retailer enters NZ tourism with $2.7m hotel acquisition https://www.tourismticker.com/2021/05/05/aus-retailer-enters-nz-tourism-with-2-7m-hotel-acquisition/ https://www.tourismticker.com/2021/05/05/aus-retailer-enters-nz-tourism-with-2-7m-hotel-acquisition/#respond Tue, 04 May 2021 19:01:28 +0000 https://www.tourismticker.com/?p=73632 Australian-based retailer Mediland Pharm has entered New Zealand's tourism sector with the $2.69m purchase of Hamilton's Heartland Ambassador Hotel.

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Super Fund jv boosts hotel portfolio with c.$60m deal https://www.tourismticker.com/2020/12/04/super-fund-jv-boosts-hotels-portfolio-with-c-60m-deal/ https://www.tourismticker.com/2020/12/04/super-fund-jv-boosts-hotels-portfolio-with-c-60m-deal/#respond Thu, 03 Dec 2020 18:30:01 +0000 https://www.tourismticker.com/?p=65124 New Zealand’s $42bn sovereign wealth fund has increased its exposure to the country's tourism sector with the circa $60m acquisition of Queenstown's five-star Sofitel Queenstown Hotel and Spa.

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Are NZ holiday parks on cusp of corporatisation? https://www.tourismticker.com/2020/10/02/are-holiday-parks-on-cusp-of-corporatisation/ https://www.tourismticker.com/2020/10/02/are-holiday-parks-on-cusp-of-corporatisation/#respond Thu, 01 Oct 2020 19:00:52 +0000 https://www.tourismticker.com/?p=60668 The acquisition of three holiday parks by overseas investors could start a trend, say industry experts.

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Middle East investors enter NZ tourism with trio of acquisitions https://www.tourismticker.com/2020/10/01/middle-east-investors-enter-nz-tourism-with-trio-of-acquisitions/ https://www.tourismticker.com/2020/10/01/middle-east-investors-enter-nz-tourism-with-trio-of-acquisitions/#respond Wed, 30 Sep 2020 20:00:40 +0000 https://www.tourismticker.com/?p=60517 Abu Dhabi private equity snaps up assets in New Zealand tourism's hottest sub-sector.

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Operator swoops on liquidation, snaps up tour assets https://www.tourismticker.com/2020/09/17/operator-swoops-on-liquidation-snaps-up-assets/ https://www.tourismticker.com/2020/09/17/operator-swoops-on-liquidation-snaps-up-assets/#respond Wed, 16 Sep 2020 19:50:29 +0000 https://www.tourismticker.com/?p=59172 Tranzit Group subsidiary Cross Country Rentals has acquired the assets of Christchurch-based Maugers Rentals which went into liquidation in March.

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Ngāi Tahu buys out Skyline in The Station https://www.tourismticker.com/2020/09/09/ngai-tahu-buys-out-skyline-in-the-station/ https://www.tourismticker.com/2020/09/09/ngai-tahu-buys-out-skyline-in-the-station/#respond Tue, 08 Sep 2020 19:30:30 +0000 https://www.tourismticker.com/?p=58775 The acquisition sees NTT take full ownership of the property.

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Nick Nicholson’s plans for ‘Hannibal’ Hayes’ Heliworks https://www.tourismticker.com/2020/09/02/nick-nicholsons-plans-for-hannibal-hayes-heliworks/ https://www.tourismticker.com/2020/09/02/nick-nicholsons-plans-for-hannibal-hayes-heliworks/#respond Tue, 01 Sep 2020 21:04:32 +0000 https://www.tourismticker.com/?p=58297 Work has begun on new products, says the new owner of the Queenstown-based operator.

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Sir Richard ‘Hannibal’ Hayes sells Heliworks Queenstown https://www.tourismticker.com/2020/09/01/sir-richard-hannibal-hayes-sells-heliworks/ https://www.tourismticker.com/2020/09/01/sir-richard-hannibal-hayes-sells-heliworks/#respond Mon, 31 Aug 2020 22:00:37 +0000 https://www.tourismticker.com/?p=58195 Action Helicopters' Heli Glenorchy will take control of the Queenstown-based operation from today.

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Wayfare’s Lauder on Cardrona’s $7m bid for TC https://www.tourismticker.com/2019/06/20/wayfares-cardrona-makes-7m-move-for-treble-cone/ https://www.tourismticker.com/2019/06/20/wayfares-cardrona-makes-7m-move-for-treble-cone/#respond Wed, 19 Jun 2019 22:15:45 +0000 https://www.tourismticker.com/?p=29278 Cardrona is on track to add a second skifield to its stable having made a long-expected offer to buy Treble Cone.

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Helloworld scores with Williment Travel buy https://www.tourismticker.com/2019/06/10/helloworld-scores-with-williment-travel-buy/ https://www.tourismticker.com/2019/06/10/helloworld-scores-with-williment-travel-buy/#respond Mon, 10 Jun 2019 00:51:46 +0000 https://www.tourismticker.com/?p=28898 Australian stock exchange listed travel giant Helloworld Travel has added another string to New Zealand business with the purchase of sports travel specialist The Williment Travel Group.

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Naumi enters South Island with Queenstown acquisition https://www.tourismticker.com/2019/06/07/naumi-enters-south-island-with-queenstown-acquisition/ https://www.tourismticker.com/2019/06/07/naumi-enters-south-island-with-queenstown-acquisition/#respond Thu, 06 Jun 2019 19:25:35 +0000 https://www.tourismticker.com/?p=28802 Singapore-based Naumi Hotels has purchased The Dairy Private Hotel in Queenstown in its first foray into the South Island.

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Rotorua’s OGO buys Zorb https://www.tourismticker.com/2019/05/16/rotoruas-ogo-buys-zorb/ https://www.tourismticker.com/2019/05/16/rotoruas-ogo-buys-zorb/#respond Wed, 15 May 2019 20:03:08 +0000 https://www.tourismticker.com/?p=28223 OGO’s Andrew and David Akers have bought rival ball rolling tourism business Zorb – a company the brothers originally launched 25 years ago.

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INFLITE snaps up jump sites, operators in southern spree https://www.tourismticker.com/2019/05/10/inflite-snaps-up-skydive-sites-scenic-operator-in-buying-spree/ https://www.tourismticker.com/2019/05/10/inflite-snaps-up-skydive-sites-scenic-operator-in-buying-spree/#respond Thu, 09 May 2019 22:25:05 +0000 https://www.tourismticker.com/?p=27945 More staff and aircraft planned as the Auckland-based business expands its skydiving and scenic flight interests.

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GCH enters whale watching with Kaikōura acquisition https://www.tourismticker.com/2019/05/09/gch-enters-whale-watching-with-kaikoura-acquisition/ https://www.tourismticker.com/2019/05/09/gch-enters-whale-watching-with-kaikoura-acquisition/#respond Wed, 08 May 2019 22:46:40 +0000 https://www.tourismticker.com/?p=27857 The Christchurch-based operator will now control one of only two helicopter concessions to fly over the whale sanctuary.

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Tourism Holdings’ sale of KiwiEx, Black Water Rafting falls over https://www.tourismticker.com/2018/12/03/tourism-holdings-sale-of-kiwiex-black-water-rafting-falls-over/ https://www.tourismticker.com/2018/12/03/tourism-holdings-sale-of-kiwiex-black-water-rafting-falls-over/#respond Sun, 02 Dec 2018 23:05:02 +0000 https://www.tourismticker.com/?p=22624 The operator blames the prospective buyer for a last-minute "bolt out of the blue" to chip the sale price.

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Pandeys’ “multi-million dollar” plan for President Hotel https://www.tourismticker.com/2018/12/03/pandeys-plan-multi-million-dollar-redevelopment-of-president/ https://www.tourismticker.com/2018/12/03/pandeys-plan-multi-million-dollar-redevelopment-of-president/#respond Sun, 02 Dec 2018 20:08:36 +0000 https://www.tourismticker.com/?p=22617 The family's CPG Hotels says it wants to transform the 3.5-star Auckland asset into a 5-star offering by mid-2020.

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MTC makes multi-million dollar move following Burkhart buy-in https://www.tourismticker.com/2018/11/29/mtc-makes-multi-million-dollar-move-following-burkhart-buy-in/ https://www.tourismticker.com/2018/11/29/mtc-makes-multi-million-dollar-move-following-burkhart-buy-in/#respond Wed, 28 Nov 2018 21:50:53 +0000 https://www.tourismticker.com/?p=22537 The operator says it wants to “make the province sing” with its purchase of two iconic lodges.

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Ngāmotu JV buys Novotel New Plymouth for $23m https://www.tourismticker.com/2018/11/26/ngamotu-jv-buys-novotel-new-plymouth-for-23m/ https://www.tourismticker.com/2018/11/26/ngamotu-jv-buys-novotel-new-plymouth-for-23m/#respond Mon, 26 Nov 2018 03:30:47 +0000 https://www.tourismticker.com/?p=22402 A joint venture between three Taranaki iwi has bought the Novotel New Plymouth Hobson Hotel for $23m.

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Aharoni adds Wellington’s landmark Amora to hotel portfolio https://www.tourismticker.com/2018/11/20/aharoni-adds-wellingtons-landmark-amora-to-hotel-portfolio/ https://www.tourismticker.com/2018/11/20/aharoni-adds-wellingtons-landmark-amora-to-hotel-portfolio/#respond Mon, 19 Nov 2018 21:00:17 +0000 https://www.tourismticker.com/?p=22105 Eyal Aharoni’s Primeproperty Group has added a fifth hotel to its portfolio with the purchase of Wellington’s landmark Amora Hotel.

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THL’s Webster “protective” of where tourism businesses go https://www.tourismticker.com/2018/10/24/thls-webster-protective-of-where-tourism-businesses-are-sold/ https://www.tourismticker.com/2018/10/24/thls-webster-protective-of-where-tourism-businesses-are-sold/#respond Tue, 23 Oct 2018 22:18:09 +0000 https://www.tourismticker.com/?p=21025 Tourism Holdings' CEO says he wants to ensure KiwiEx and Black Water Rafting are sold to the "right people".

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THL in talks to sell KiwiEx, Black Water Rafting https://www.tourismticker.com/2018/10/23/thl-in-talks-to-sell-kiwiex-blackwater-rafting/ https://www.tourismticker.com/2018/10/23/thl-in-talks-to-sell-kiwiex-blackwater-rafting/#respond Tue, 23 Oct 2018 05:21:45 +0000 https://www.tourismticker.com/?p=21004 The operator has been bounced into revealing sale talks are underway after fearing a breach of confidentiality.

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Private equity-backed Bachcare expands south https://www.tourismticker.com/2018/09/21/bachcare-buy-out-adds-te-anau-to-its-network/ https://www.tourismticker.com/2018/09/21/bachcare-buy-out-adds-te-anau-to-its-network/#respond Thu, 20 Sep 2018 19:30:25 +0000 https://www.tourismticker.com/?p=19704 Private-equity backed Bachcare has expanded its holiday home management services into Te Anau with the recent purchase of Te Anau Holiday Homes.

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InterCity expands in Australia with Queensland acquisition https://www.tourismticker.com/2018/07/12/intercity-expands-in-australia-with-queensland-acquisition/ https://www.tourismticker.com/2018/07/12/intercity-expands-in-australia-with-queensland-acquisition/#respond Wed, 11 Jul 2018 22:10:35 +0000 https://www.tourismticker.com/?p=16276 Auckland-based InterCity has bought another Queensland scenic tour operator.

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Waikato tours combine as Travel Time buys AgriTravel https://www.tourismticker.com/2018/06/08/waikato-forces-combine-as-travel-time-buys-agritravel/ https://www.tourismticker.com/2018/06/08/waikato-forces-combine-as-travel-time-buys-agritravel/#respond Thu, 07 Jun 2018 19:28:43 +0000 https://www.tourismticker.com/?p=14756 Travel Time South Pacific has bought Waikato-based specialist agricultural tour operator, AgriTravel International.

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Stevenson’s South Pacific acquires Wings Over Whales https://www.tourismticker.com/2018/06/07/south-pacifics-stevenson-acquires-wings-over-whales/ https://www.tourismticker.com/2018/06/07/south-pacifics-stevenson-acquires-wings-over-whales/#respond Wed, 06 Jun 2018 23:49:35 +0000 https://www.tourismticker.com/?p=13695 Helicopter operator South Pacific Aviation has expanded into fixed-wing scenic tours with the acquisition of Wings Over Whales Kaikōura.

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INFLITE jumps into skydiving with multi-million dollar acquisition https://www.tourismticker.com/2018/04/23/inflite-jumps-into-skydiving-with-multi-million-dollar-acquisition/ Sun, 22 Apr 2018 21:48:21 +0000 https://www.tourismticker.com/?p=8701 Aviation tourism operator INFLITE has entered the New Zealand skydive sector with a multi-million dollar purchase of Skydive Franz Josef Glacier.

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