Leading luxury tour provider Great
Rail Journeys, parent company of Vacations By Rail, announced it has been acquired
by UK-based private entity firm, Vitruvian Partners.
The acquisition will see the departure of previous investors
Duke Street Capital however the management team led by Great Rail Journeys’ CEO
Dave Riley will remain.
Founded in York, England in 1973 as a family-run business,
Great Rail Journeys focused on rail tours for UK
travelers in both the UK and Europe and grew to its current position of
offering more than 400 itineraries around the world. In 2019, it acquired
Vacations by Rail to tap into the growing US travel interest.
CEO Dave Riley said in a statement, "We have tripled
the size of our US business, achieved market leading growth in the UK, and
grown beyond rail with the addition of European river cruises and wider land
touring program. For more than 50 years, we have set the standard in tours for
both new and returning customers, and I am excited about the next chapter of
our journey. I look forward to working with Vitruvian to deliver on our growth
ambitions."
Ben Johnson, partner at Vitruvian Partners added, "We
are excited to partner with Dave and his team and share their ambition for the
company to become the global market leader in escorted travel for those who
enjoy discovering magical destinations by rail and river."
"Today marks a momentous next step for our company”
said Liz Owens, SVP & General Manager of Vacations By Rail. Our business
has been through an impressive growth transformation in recent years. This
acquisition supports our long-term objectives and ensures our shared commitment
towards giving our customers the best travel experience possible."
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