by Sarah Kuta
Last updated: 10:55 AM ET, Thu January 16, 2025
Ponant Explorations Group has purchased a majority stake in Aqua Expeditions.
The deal was backed by Artémis Group, the investment company belonging to the French Pinault family. Ponant says it plans to “empower Aqua Expeditions to continue expanding its footprint globally and enabling the company’s growth as a destination specialist,” according to the company.
Ponant Explorations Group also owns Paul Gauguin Cruises and the Ponant cruise brand.
“We are thrilled to welcome Aqua Expeditions into the Ponant family," says Hervé Gastinel, chief executive officer of Ponant Explorations Group. “This partnership aligns perfectly with our vision of excellence and sustainability in the luxury sector. It reflects our commitment to offering unparalleled travel experiences in iconic destinations such as the Galápagos and now also river journeys, while preserving the natural beauty of the places we explore. We are deeply impressed with the exceptional company that Francesco has built over the past 18 years and the unique brand he has developed in the experiential travel space.”
Francesco Galli Zugaro, the founder and chief executive officer of Aqua Expeditions, will stay on as a shareholder; his senior management team will continue to lead the company as a stand-alone business unit.
Aqua Expeditions offers small-ship river and ocean cruises in the Galápagos Islands, Raja Ampat, Komodo, Spice Islands, the Mekong River and the Peruvian Amazon River. The acquisition comes as Aqua Expeditions prepares to launch new East Africa itineraries in the Seychelles and Tanzania, with a focus on the Aldabra group of islands.
“Joining forces with Ponant Explorations Group and having the support of the Artémis Group is a remarkable opportunity for Aqua Expeditions," says Zugaro. “Partnering with another family-owned business ensures we maintain a heritage of luxury in our brand. With the financial support and expertise from our partners, we are well-positioned to continue our growth and offer our guests unforgettable journeys to the world’s most biodiverse and culturally rich regions while maintaining our core brand values.”
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