Adventure tourism and leisure company Experience Co
(ASX:EXP) has completed the acquisition of GBR Helicopters.
Consideration for the acquisition was $19.6 million, which included a payout of a debt facility.
GBR Helicopters is the largest helicopter operator in North Queensland, offering flights over the Great Barrier Reef and the Daintree Rainforest.
CEO and Executive Director Anthony Ritter said the acquisition strengthens the company’s position in far-north Queensland’s adventure tourism and experience market.
The company said offering the popular tourist attraction of helicopter flights over the reef and rainforest adds to their existing offering to customers.
Shares in Experience Co
(ASX:EXP) are trading flat at 74 cents.
