Lindblad Expeditions Holdings, Inc. acquired a 80.1% stake in Classic Journeys, LLC for $12.8 million.
October 18, 2021
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Lindblad Expeditions Holdings, Inc. (NasdaqCM:LIND) acquired a 80.1% stake in Classic Journeys, LLC for $12.8 million on October 13, 2021.
Lindblad Expeditions Holdings, Inc. (NasdaqCM:LIND) completed the acquisition of a 80.1% stake in Classic Journeys, LLC October 13, 2021. The purchase agreement includes a contingent consideration earnout. The possible contingent acquisition consideration earnout is either zero or $0.6 million, depending on the achievement of certain average annual net profits targets for the years ended December 31, 2022 and 2023 by the acquired operation.
Lindblad Expeditions Holdings, Inc. is an expedition travel company. It is focused on ship-based voyages through its Lindblad Expeditions brand and land-based travel through its subsidiaries, Natural Habitat, Inc. (Natural Habitat), Off the Beaten Path LLC (Off the Beaten Path), DuVine Cycling + Adventure Co. (DuVine) and Classic Journeys, LLC (Classic Journeys). Its segments include Lindblad and Land Experiences. The Lindblad segment includes ship-based expeditions aboard customized, nimble and intimately scaled vessels that are designed for discovery, enabling it to venture where larger cruise ships cannot, thereby allowing Lindblad to offer up-close experiences in the planetâs wild and remote places and capitals of culture. The Land Experiences segment includes land-based adventure brands, providing tours, trips and journeys centered around nature and culture. The Land Experiences includes four land-based brands: Natural Habitat, DuVine, Off the Beaten Path and Classic Journeys.
LINDBLAD EXPEDITIONS HOLDINGS, INC. 
