Cruise agency Panache Cruises has made a six-figure investment in Chester-based sports and experiential travel business, Vedere Travel.
Vedere Travel was founded three years ago by Alex Catton and specialises in premium overseas sports events, such as the Grand Prix and the US Masters.
It said the investment will help to accelerate the growth of Vedere beyond ‘a lifestyle business.
Panache founder and CEO James Cole (inset above) said the deal was part of a wider strategy to expand into other areas of the travel industry, adding that he is looking for other investment opportunities.
“There’s always been a masterplan to reach out to find and work with like-minded businesses and founders who want to grow their business,” he told BusinessCloud.
“We think there’s an opportunity to expand what we do beyond the cruise industry into other areas of travel.
“There’s a good fit between our two businesses. Vedere has similar customer demographics to us but operate in a different element of the travel industry.
“Alex Catton is a prime example of a founder who has exceptional knowledge and talent but needs some support in scaling it to the next level.
“We can really help Alex grow his business. We can work together on projects that include cruises and sporting events. We can cross promote what we do.
“We want to provide the opportunity for Alex to plug Vedere into Panache Travel Group’s infrastructure and tap into our experience of scaling.”
Founded in 2020, Panache Cruises has grown turnover to £60m and has offices in the UK, US and Australia.
Alex previously worked at ITC Travel Group before launching Vedere.“I didn’t want Vedere to become a lifestyle brand,” he said. “I could have had a nice life with a small travel company but that’s not what I wanted to do.
“I’ve known James since 2019 but I hadn’t appreciated how fast Panache had scaled, going from nothing to £60m in six years. That’s what I want for Vedere.
“I’m already getting those advantages that come with working with Panache. We want to mirror their growth. Hopefully in five years’ time we will have significantly scaled Vedere Travel.”
Alongside the investment, Vedere has relaunched its website and made a number of appointments to support its next phase of growth.
